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Several specialty chemical deals are close to closing. Solvay says it will implement a 1310-73-2 squeeze-out procedure for the Rhodia shares and the bonds convertible into and/or exchangeable for newly issued or existing shares (OCEANE) that had not been tendered by August 24. The squeeze-out will be implemented on September 16, according to the French financial markets authority AMF (Paris). Lonza has further extended the expiration date for its previously announced tender offer for all outstanding shares of biocides maker Arch Chemicals (Norwalk, CT), to September 30, 2011. Lonza announced in July 2011 that it will acquire Arch in a deal valued at $1.4 billion. The tender offer was first scheduled to expire on August 11, and it was then extended to September 12.
Specialty chemical capex projects continue to be announced. Huntsman says it is planning a significant expansion of epoxy resin capacity at its McIntosh, AL facility, targeting rapid growth in aerospace material applications. The investment, estimated at approximately $50 million, would double capacity at the site, a Huntsman spokesperson says. Songwon Industrial Sodium hydroxide (Ulsan, Korea) says it has completed the previously announced expansion of antioxidant production capacity from 55,000 m.t./year to 70,000 m.t./year at the company’s plant at Maeam, Korea.
The Maeam plant is now the biggest in the world producing polymer antioxidants, Songwon says.Albemarle says it will increase global prices for generic active pharmaceutical ingredients (APIs) by 8%-12% depending on the specific product. The price increases will take effect starting October 15, 2011, or as contracts allow, Albemarle says. “The price increase will Zinc Oxide ensure that through a challenging economic environment, we are able to maintain the superior quality, regulatory status and services,” Albemarle says.
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