Livent has signed a sourcing agreement, under which it will supply General Motors (GM) with battery-grade lithium hydroxide for six years from 2025. GM intends to use this in its battery cathodes, which will power electric vehicles such as the recently revealed Chevrolet Blazer EV (pictured), Chevrolet Silverado EV, GMC Hummer EV and Cadillac Lyriq.
Evonik has made several moves to limit its dependence on Russian supplies of natural gas at its German sites. The company said that this is less of an issue in other countries but “in Germany, on the other hand, a loss of Russian gas supplies would seriously jeopardise chemical production”.
Ube has agreed to acquire all of the shares of the CDMO and API manufacturer API Corporation (APIC) from its Japanese compatriot Mitsubishi Chemical. Terms were not disclosed.
APIC offers such CDMO services for small molecule drugs as synthetic route design, pilot manufacturing, investigational medical manufacturing and commercial production based on capabilities in both organic synthesis and biotechnology it has cultivated over many years. It also makes APIs and intermediates.
Patent expirations are creating opportunities in crop protection, while the speciality chemicals market as a whole enters choppy waters. Gregory DL Morris reports from Specialty & Agro Chemicals America
Evonik has agreed to sell its US betaine business in Hopewell, Virginia (pictured), to speciality chemicals company Kensing. The deal is expected to close in Q3. This follows the sale of the firm’s UK betaines site at Milton Keynes and the closure of another at Granollers, Spain, both in 2020.
Evonik will, however, continue its betaine businesses in Europe, Asia and Latin America. It will also retain the rest of the Hopewell facility, which produces additives for polyurethane foam manufacture, plus agricultural and industrial applications.
Following on from a decision last year to evaluate options to boost value, the board of Labcorp has authorised a spin-off of its clinical development business to shareholders through a tax-free transaction. This should be completed in 2H 2023.
LabCorp is expected to continue being publicly traded on the New York Stock Exchange and the clinical development business should also be publicly listed. This will lead to the creation of two independent companies with “distinct strategic priorities, customer needs and value creation”, the company said:
Cell engineering company Ginkgo Bioworks has acquired the troubled synthetic biology specialist Zymergen for a market capitalisation of $300 million. It will now look for “strategic alternatives” for the new drug discovery business once this is complete. Both boards have approved.