The Mazda Pharma Guide 7th October to 13th October | Page 34

CHEMICALS NEWS
INVISTA
ACQUIRES
ADVANSA'S
SPECIALTY
POLYESTER
APPAREL ASSETS

markets and the resultant impact on

Initiative to scale up a new process for

demand," the company says. APC

the production of acrylic acid from

operate at 20% of total production

ethylene and carbon dioxide. The

capacity, according to the filing. APC

company has partnered with a major

says it will return to producing at full

industrial gas producer on the project,

capacity "when potash markets support

and discussions with chemical partners

such a decision." Contractual obligations

are underway, says Michael Slowik,

will be met from inventories.

director/chemicals at Novomer.

EVOGENE FILES

ALBEMARLE TO

FOR IPO WORTH

REORGANIZE

Invista and Advansa (Chaam, the

UP TO $60

BUSINESS UNITS

Netherlands), a leading European

MILLION

AND RELATED
TECHNOLOGIES

polyester fiber producer, have reached an
agreement, under which Invista acquired
Advansa's assets related to specialty
polyester products for apparel end uses.
The acquisition includes reversion of
Advansa's licensed rights in greater
Europe to the Coolmax and Thermolite
brands and acquisition of Advansa's
Thermocool brand, along with all related
technologies and key staff. Financial
terms of the acquisition were not
disclosed. The transaction does not
include Ad vansa's branded.

ARAB POTASH CO.
TO OPERATE AT
20% OF CAPACITY
UNTIL POTASH
MARKET
IMPROVES

Albemarle will reorganize its business

Evogene (Rehovot, Israel), a plant
genomics firm in which Monsanto and
Bayer hold 8.7% and 4.6% stakes,
respectively, announced today that it has
filed a registration statement with the
United States SEC for a proposed initial
public offering worth up to $60 million.
Additional terms have not been
disclosed. According to an F-1 filing,
Evogene intends to use approximately
half of the proceeds to expedite the
commercialization of seed traits and
expand its seed traits project portfolio
into new traits and crops. The remaining
funds will be used to establish new

structure, reducing the number of
reporting segments at the company from
three to two, effective 1 January 2014, it
says. The two business units will be
called performance chemicals and
catalyst solutions. The performance
chemicals unit will encompass
Albemarle's brominated flame retardants,
minerals and custom manufacturing
businesses, while the catalyst solutions
unit will house various catalyst
businesses and antioxidants. Currently,
Albemarle has three business units:
catalysts, polymer solutions, and fine
chemicals.

projects.

NOVOMER AIMS
TO SCALE
ETHYLENETO-ACRYLIC ON

Arab Potash Co. (APC; Amman, Jordan)
will operate its facilities at a reduced rate

US GULF COAST

for the foreseeable future, according to a

BY 2017

company filing with the Amman Stock
Exchange. The decision was made "in
response to uncertainty in world potash

34

Novomer (Waltham, MA) has won a $5million grant from the Department of
Energy's Clean Energy Manufacturing

THE MAZADA PHARMA GUIDE q
7 October - 13 October 2013