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KCC to takes over Momentive

South Korean paint and chemicals firm KCC has agreed to acquire the minority stake of SJL Partners Momentive Performance Materials and assume full ownership. This is subject to customary closing conditions and no price has been disclosed. Based in New York state, Momentive is a major supplier of silicone and speciality products for applications including personal care.

Investment in Tanasote plant

Octowood, a part of the Sweden’s Rundvirke Industrier Group, has invested in a new treatment plant using Arxada’s wood preservative, Tanasote. The company is one of Europe’s largest creosote treaters but wanted to offer an additional long-term wood protection option for pine used in fencing and power lines.  

Chemours publishes initial findings of review

The Audit Committee of the Chemours board has delivered a “substantially complete” report of the findings of the internal review it was tasked to complete with regard to the conduct of CEO Mark Newman, CFO Jonathan Lock and principal accounting officer Camela Wisel. All three were put on administrative leave on 29 February pending its completion.

Almac doubles peptide capacity

Almac Group has announced the completion of two new purpose-built facilities at its headquarters in Craigavon, Northern Ireland. The total investment is about $400 million and is part of a global investment programme announced in June 2022.

One is a 2,600 m2 GMP facility that more than doubles peptide API manufacturing capacity. This “will enhance synthesis, purification and isolation capabilities and meet anticipated demand for clinical development and commercial products”, the company said.

Noramco forms North American supply chain body

Noramco, an API supplier specialised in controlled substances, has launched Noramco Group, which it describes as a “comprehensive North American-based supply chain solution” for clinical and commercial APIs and drug products. Noramco Group unites the capabilities of three subsidiaries:

* Delaware-based Noramco itself, which supplies APIs for both branded and generic drugs that are used in over 350 products

* Purisys, a Georgia-based supplier of CDMO services and pharmaceutical reference standards, with specialised capabilities in controlled substance APIs

CordenPharma expands early-phase peptides

CordenPharma has announced the commissioning of new GMP capacities at its Frankfurt site to manufacture early clinical phase peptide APIs. The investment is still being finalised, but will be fully operational in Q2 and authorised by German authorities in 2H.

Boost for Scottish biotech

The Industrial Biotechnology Innovation Centre (IBioIC) is to install a 300-litre fermenter at FlexBio, its scale-up facility at Heriot-Watt University in Edinburgh, Scotland. This was funded by a £847,000 from the devolved Scottish government.

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