MERGERS AND ACQUISITIONS

Chemical Engineering Progress, Aug 2004

PolyOne Sells Off Elastomers, Additivesand Rubber Granulates

PolyOne Corp. (Cleveland, OH; www.polyone.com) has signed a definitive agreement to sell its Elastomers and Performance Additives business (Solon,OH) to an entity formed by an investor group led by Lion Chemical Capital (New York, NY; www.lionchemicalcapital.com) and ACI Capital Co. (New York, NY; www.acicapital. com) The transaction, valued at 0 $0 106 million in cash and $14 million in the form of a note, is expected to close during the third quarter of 2004.

DuPont Empowered By Maxygen's Molecular Breeding Platform

DuPont Corp. (Wilmington, DE; www.dupont.com) is purchasing Verdia, Inc., a plant sciences company and wholly owned subsidiary of Maxygen, Inc. (Redwood City, CA; www.maxygen. com) for $64 million in cash. The acquisition gives DuPont royalty-free, worldwide and exclusive rights to use Maxygen's molecular breeding, directed evolution technologies (e.g., gene shuffling) for agricultural applications. Maxygen will use the proceeds from this transaction to fund its human therapeutic development programs.

Rhodia Sells North American Specialty Phosphates Business

Rhodia (Paris, France; www.rhodia.com) is selling its North American specialty phosphates business to Bain Capital (London, U.K.; www.baincapital.com) for 0 $0 550 million. The companies' definitive agreement is expected to be finalized in the third quarter of 2004. Rhodia will be allowed to continue marketing phosphates for pharmaceutical applications.

Linde Acquires Singapore-Based Syngas Plant from ChevronTexacc

ChevronTexaco Corp. (San Ramon, CA; www.chevrontexaco.com) is selling its jurong Island, Singapore-based synthesis gas plant, Syngas Pte. Ltd., to Linde AG (Wiesbaden, Germany; www.linde, com). Linde expects the facility to provide customers in Singapore, Malaysia, Thailand, and Indonesia with various industrial gases, including bulk products, hydrogen, carbon monoxide, and carbon dioxide.

Sigma-Aldrich Steps Up Its Fine Chemicals Capacity with Tetrionics

Sigma-Aldrich Corp. (St. Louis, MO; www.sigma-aldiich.com) has expanded its fine chemicals production capacity through an all-cash acquisition of Tetrionics, Inc. (Madison, WI; www.tetrionics.com), the services of which include synthesis and scale up, analytical chemistry, regulatory support and current good manufacturing practice of active pharmaceutical ingredients.