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IVL completes Oxiteno acquisition

Thailand’s Indorama Ventures (IVL) has completed its acquisition of 100% of Brazil-based Oxiteno from Ultrapar Participações, following approval by Brazil’s Administrative Council for Economic Defence. IVL said that the deal, first announced in August 2021, makes it “the leading surfactants producer in the Americas, with additional potential to expand in Europe and Asia”.

Sanofi outlines plans for EuroAPI

Sanofi has announced that newly established API manufacturer EuroAPI will begin trading on the Euronext Paris on 6 May, subject to shareholder approval at a meeting three days before. Following this, EuroAPI will operate independently.

“This important step towards our listing is a key milestone for EuroAPI and is part of the deployment of our strategy and our independence from Sanofi,” said CEO Karl Rotthier.

Huntsman sees off ‘activist’

Huntsman shareholders have voted to elect all ten of its director nominees to the board at their AGM, giving the management an important victory over ‘activist’ shareholder Starboard, which had been trying to steer the firm in a different direction. It can now continue to follow the strategy outlined at an Investor Day in November 2021, subject to final results.

Evonik realigns Health Care

In order to “maximise customer centricity and market focus” and continue an ongoing transition into “a system solutions partner for the pharmaceutical and biotech industries”, Evonik has divided its Health Care business into three distinct units.

Drug Substance encompasses the company’s CDMO services for active APIs, including HPAPIs, and intermediates plus generics. It is headed by Dr Stefan Randl, an industry veteran of 15 years who has been leading projects in mRNA and gene therapies since 2020.

Baker Hughes in Saudi JV

Oilfield chemicals player Baker Hughes and Dussur, which is co-owned by Sabic and the Saudi Arabian Public Investment Fund, have signed an agreement to form a joint venture company to make oilfield and industrial chemicals in Saudi Arabia.

The 51-49 venture includes Baker Hughes’ existing chemical blend plant in Dammam and manufacturing facility in Jubail. The latter will supply the Saudi market while expanding localisation opportunities. The deal is expected to close in Q3.

Two buys for Barentz

Barentz International has continued its ongoing series of acquisitions with two more distributors of life science ingredients and specialty chemicals, one based in France and the other in Latin America. Both are described as being aligned with its growth strategy of becoming the leading global life science distributor.

Afyren commissions biochemical facility

Greentech firm Afyren has announced the industrial commissioning of its Afyren Neoxy plant on schedule and within budget. The plant at Carling Saint-Avold in eastern France began construction in 2H 2020. It is the first industrial-scale factory for the production of biobased carboxylic acids from sugar beet co-products.

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