Dow Chemical Co. plans to buy Rohm and Haas Co. for more than $15 billion. The acquisition is part of Dow’s effort to move into the specialty chemicals market in the hopes of providing a buffer against ups and downs in basic chemical sales. The deal has been approved by both companies’ boards and is pending approval by Rohm and Haas shareholders as well as regulators.
Tyson Foods and Syntroleum Corporation have approved plans to build and fund Dynamic Fuels’ first renewable synthetic fuels facility in Geismar, Louisiana. Dynamic Fuels is a 50/50 joint venture between Tyson and Syntroleum to convert low-grade, inedible fats and greases into renewable fuels for the military and civilian markets. Construction should begin in October with completion expected by the end of 2009. The project will use various non-food grade animal fats produced or procured by Tyson Foods, such as beef tallow, pork lard, chicken fat and greases, with annual capacity expected to be 75 million gallons.
PPG Industries has acquired Vanex Inc. Terms of the deal were not disclosed. Vanex Inc. is a coatings manufacturer based in Mount Vernon, Illinois. PPG sees the acquisition as an enhancement to the PPG TrueFinish business, which provides a range of liquid and powder coatings to manufacturers, custom coaters and distributors throughout North America.
Technology center and headquarters
Momentive Performance Materials plans to spend $81 million on a new technology center and headquarters in Rensselaer County, New York. A final location is slated to be chosen by this fall. Construction on the $65 technology center should begin in 2009 and is estimated to take 18 months to complete. After that, work will begin on the $16 million headquarters building. The technology center is being built to meet customer needs and help them develop successful applications of silicone materials.
Equipment and Technical Services Inc. (ETS) has integrated the operations of its subsidiary, Geonav Marine Systems, with its existing equipment rentals and services under the ETS name. ETS is a provider of offshore surveying and positioning solutions. ETS’ system sales division now includes Geonav’s experts and its product lines.