DSM to raise USD100 million in Patheon IPO

MOSCOW (MRC) -- DSM NV will raise approximately USD100 million by selling 4.9 million shares in the drugs company Patheon NV (Durham, North Carolina) in Patheon's IPO on the New York Stock Exchange, said Chemweek.

DSM currently owns 53.5 million shares in Patheon, a 49% equity stake. Patheon itself is selling 25.6 million shares at USD19–22 per share and will use the proceeds to pay down debt. Patheon has granted the underwriters a 30-day option to purchase up to an additional 4.6 million ordinary shares from the company.

As MRC informed earlier, Royal DSM, a global science-based company active in health, nutrition and materials, is once again extending its range of ForTii high performance polyphthalamides based on polyamide 4T.

Royal DSM is a global science-based company active in health, nutrition and materials. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials.
MRC

MOSCOW (MRC) -- Husky Injection Molding Systems Ltd. will not appeal the dismissal of its lawsuit against Athena Automation Ltd., said Canplastics.

According to a July 7 news release from Woodbridge, Ont.-based Athena, Husky has now abandoned its appeal of the judge’s decision released April 2016.

On April 22, Justice Frank Newbould on the Ontario Superior Court of Justice found that Robert Schad and Athena – which Schad founded in 2008 – had breached the confidentiality agreement he had in place with Husky, but concluded that Athena didn’t make any material use of the information in developing its own technology. Athena employees had access to new Husky technology at injection molder Niigon Technologies Ltd. in MacTier, Ont., the judge found, but did not make material use of the knowledge.

"I am glad that this stressful period is behind us, and we look forward to competing on a level playing field," Schad said in a statement.

Athena currently builds 150, 300, and 450 metric ton injection molding machines. A new 155,000-square-foot plant for just-in-time manufacturing of machines is ramping up operations. The existing 40,000-square-foot building houses the head office including sales and customer services.

Schad – who is 87 – founded Bolton, Ont.-based Husky in 1953, took the company public in 1998, and sold it in 2007.

As MRC informed earlier, Husky Injection Molding Systems is going to make additional investments to support its continued growth in China with plans to establish a new manufacturing facility in the region of Suzhou.

Husky made thin-wall molds for years, but exited in-house production in the mid-1990s to focus on its growing PET mold and hot-runner operations. In 2011, Husky bought Austrian closure-mold specialist KTW Group.
Now picking up Schottli brings a broader mold focus, but one that is still within Husky's sweet spot of thin-wall, fast-cycling parts.
MRC

MOSCOW (MRC) -- With the help of BASF’s versatile plastic materials, the new three-wheeled concept vehicle 05GEN from Yamaha Motor Co., Ltd makes short journeys both comfortable and convenient, said BASF.

This new generation electric-assist vehicle is on display at the Toyo Ito Museum of Architecture, Imabari, Omishima Island in Japan from July 14, 2016, until June 15, 2017.

In modern vehicles, tires are key to a comfortable and relaxing ride. BASF’s Infinergy, the world’s first expanded thermoplastic polyurethane, and Elastollan, a thermoplastic polyurethane, are used in the 05GEN’s tires to enhance the overall riding experience. The characteristic cellular structure of Infinergy contributes to its striking design. Additionally, Elastollan makes possible a variety of textures and colors on the surface of the tires.

Andy Postlethwaite, Senior Vice President, Performance Materials Asia Pacific said, "Yamaha’s new-generation vehicle aims to improve the riding experience and quality for travelers moving short distances. This resonates with us well because at designfabrik, we help translate ideas into daily products that improve people’s quality of life. By offering our consulting services on color, material, and finish development, we helped Yamaha realize their design concept of ‘Refined Dynamism’."

As MRC informed earlier, Aspen Aerogels reached agreement to supply its Spaceloft A2 aerogel insulation product to BASF, for incorporation into BASF’s aerogel enhanced wall system for the building materials market. The companies have also entered into a joint development agreement covering collaboration on the development and commercialization of new products. BASF will fund a USD22-million non-interest bearing advance to support construction of Aspen’s new manufacturing plant in Statesboro, GA. BASF will serve a base load customer for the capacity expansion.

BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF generated sales of more than EUR70 billion in 2015.
MRC

MOSCOW (MRC) -- Seed company Monsanto Co (MON.N), which rejected Bayer AG's (BAYGn.DE) buyout offer in May, is exploring various transactions, including the acquisition of BASF's agriculture-solutions unit, Reuters reported.

In return, BASF would likely receive newly issued shares in Monsanto, Bloomberg said, citing people familiar with the matter.

The discussions are at an early stage, and no final decisions have been made, the report said, citing the people. Talks with Bayer are continuing, sources told Bloomberg.

Monsanto and BASF could not be reached for comment outside regular business hours. A Bayer spokesman said the company did not comment on rumors or speculation.

Monsanto's board is split over the merit of potential deals with rivals BASF and Bayer with some executives keen to remain independent and others preferring a takeover, Bloomberg reported, citing a source.
MRC

MOSCOW (MRC) -- The Canadian government has signed a free trade agreement with Ukraine, said Canplastics.

The trade deal was signed on July 11 by Prime Minister Justin Trudeau and Ukrainian President Petro Poroshenko.

In 2015, trade between the two countries totaled USD278 million; the top Canadian exports to the eastern European country include fertilizers, iron and steel, and anthracite coal.

Following the signing, the Canadian and Ukrainian legislatures will begin the ratification and implementation process for the new trade agreement.

As MRC informed earlier, an additional 9% of plastic packaging was recycled in Canada in 2013 compared with 2012, a new report concludes. Complied by Moore Recycling Associates Inc. and released by the Canadian Plastics Industry Association (CPIA), the report attributes the increase to more material being collected for recycling as well as more companies providing recycling information. In total, more than 311 million kilograms of postconsumer plastic packaging were collected in Canada in 2013 for recycling.
MRC