Acquisitions

Symrise plans to acquire Manheimer Fragrances and recently purchased Intercontinental Fragrances.  These acquisitions expand the company’s air care market expertise.  Together, the acquisitions will cost about $100 million.  As a result, Symrise is one of the leading fragrance suppliers for air fresheners in North America and the company says it plans to create a global air care center in the U.S. next year.  

Plant Expansion

PPG Industries Inc. will buy BASF Corp.’s North American coil and extrusion coating business.  This move will result in work transferring to PPG’s Springdale, PA plant, creating 55 jobs.  The production transfer will be from BASF’s Decatur, AL and Belvidere, NJ operations.  PPG will spend $8 million to install equipment needed for the consolidation.

Streamlining

PPG Industries Inc., in response to weaknesses in the housing and automotive markets, will close three coatings and glass plants as part of a restructuring plant that will eliminate several hundred jobs and save $100 million annually.  The company is looking to streamline its worldwide manufacturing footprint and staffing levels following its recent acquisitions.

Presidential Veto Overridden

Czech lawmakers have overridden a presidential veto of a law that puts the country’s chemical industry under tougher European Union rules.  The bill implements an EU directive that requires manufacturers and importers to register chemicals with the new Helsinki-based European Chemicals Agency.  The new agency’s tasks are to collect information and run a public database on chemicals as well as to evaluate, authorize and restrict use of substances so they pose no hazard to humans and the environment.

Job Cuts

Akzo Nobel will cut 3,500 jobs by 2011.  Synergies with ICI, acquired by Akzo Nobel last year, combined with additional cost savings will cause the job cuts.  The company is also postponing a program to buy back $2.3 billion in shares due to the crisis hitting world banks.

Expansion