Tennessee-based Eastman Chemical Co. Solutia Inc. on Tuesday its 3.4 billion deal, announced across the country to buy chemical manufacturing facilities. Representatives of both companies said on Monday that Solutia's facilities should be affected by any purchase.
"However, as far as I know there is no down any of Solutia's Anniston facility construction, including the closure plan."
Zona said the acquisition is not expected to be final by the middle of 2012, at which time more details emerge about the deal.
Tracy Broadwater, Eastman Chemical, the spokesman said his company currently no plans for layoffs or closures at Anniston Solutia plant was not.
"Although it is too early in the process, Solutia's manufacturing sites we do not expect any significant effects" Broadwater said.the business. "
Solutia Anniston plant currently employs roughly 85 people. Feature Therminol, a synthetic heat transfer fluids used in manufacturing and solar power markets makes. It Skydrol, a leading aviation hydraulic fluid builds commercial aircraft.
The deal comes four years after purchase Solutia emerged from bankruptcy court protection, restructuring after it spun off from Monsanto Company. Under Monsanto from 1929 to 1971 is still the local chemical plant produced PCBs, parts of West Anniston contaminating. A $ 300 million lawsuit settlement in 2003 led to the contamination awarded to West Anniston residents exposed to contamination. Settlement also established the Community Advisory Group and Solutia's Anniston Community Education Foundation, which provides scholarships to students of other activities that occurred in the area.
Zona said that those organizations with Solutia continues its responsibilities until the deal is finalized with Eastman.
"Once the deal is to transfer responsibility for Eastman" Zona said.
Zona said the acquisition will help the two companies, two manufacturers have some overlapping products. He said that the products currently Solutia plant in Anniston are owned by and are not made by competing companies.
"They are supplemented by" Zona Solutia and Eastman said. "We do not build the same products."
In a recent press release, Eastman CEO Jim Rogers said the purchase will help the company to expand the global market.
"Solutia also emerging geographies, particularly in Asia Pacific will broaden our geographic reach."
...
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Monday, January 30, 2012
Solutia purchase not expected to affect Anniston plant Read more: Anniston Star - Solutia purchase not expected to affect Anniston plant
Tennessee-based Eastman Chemical Co. Solutia Inc. on Tuesday its 3.4 billion deal, announced across the country to buy chemical manufacturing facilities. Representatives of both companies said on Monday that Solutia's facilities should be affected by any purchase.
"However, as far as I know there is no down any of Solutia's Anniston facility construction, including the closure plan."
Zona said the acquisition is not expected to be final by the middle of 2012, at which time more details emerge about the deal.
Tracy Broadwater, Eastman Chemical, the spokesman said his company currently no plans for layoffs or closures at Anniston Solutia plant was not.
"Although it is too early in the process, Solutia's manufacturing sites we do not expect any significant effects" Broadwater said.the business. "
Solutia Anniston plant currently employs roughly 85 people. Feature Therminol, a synthetic heat transfer fluids used in manufacturing and solar power markets makes. It Skydrol, a leading aviation hydraulic fluid builds commercial aircraft.
The deal comes four years after purchase Solutia emerged from bankruptcy court protection, restructuring after it spun off from Monsanto Company. Under Monsanto from 1929 to 1971 is still the local chemical plant produced PCBs, parts of West Anniston contaminating. A $ 300 million lawsuit settlement in 2003 led to the contamination awarded to West Anniston residents exposed to contamination. Settlement also established the Community Advisory Group and Solutia's Anniston Community Education Foundation, which provides scholarships to students of other activities that occurred in the area.
Zona said that those organizations with Solutia continues its responsibilities until the deal is finalized with Eastman.
"Once the deal is to transfer responsibility for Eastman" Zona said.
Zona said the acquisition will help the two companies, two manufacturers have some overlapping products. He said that the products currently Solutia plant in Anniston are owned by and are not made by competing companies.
"They are supplemented by" Zona Solutia and Eastman said. "We do not build the same products."
In a recent press release, Eastman CEO Jim Rogers said the purchase will help the company to expand the global market.
"Solutia also emerging geographies, particularly in Asia Pacific will broaden our geographic reach."
...
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"However, as far as I know there is no down any of Solutia's Anniston facility construction, including the closure plan."
Zona said the acquisition is not expected to be final by the middle of 2012, at which time more details emerge about the deal.
Tracy Broadwater, Eastman Chemical, the spokesman said his company currently no plans for layoffs or closures at Anniston Solutia plant was not.
"Although it is too early in the process, Solutia's manufacturing sites we do not expect any significant effects" Broadwater said.the business. "
Solutia Anniston plant currently employs roughly 85 people. Feature Therminol, a synthetic heat transfer fluids used in manufacturing and solar power markets makes. It Skydrol, a leading aviation hydraulic fluid builds commercial aircraft.
The deal comes four years after purchase Solutia emerged from bankruptcy court protection, restructuring after it spun off from Monsanto Company. Under Monsanto from 1929 to 1971 is still the local chemical plant produced PCBs, parts of West Anniston contaminating. A $ 300 million lawsuit settlement in 2003 led to the contamination awarded to West Anniston residents exposed to contamination. Settlement also established the Community Advisory Group and Solutia's Anniston Community Education Foundation, which provides scholarships to students of other activities that occurred in the area.
Zona said that those organizations with Solutia continues its responsibilities until the deal is finalized with Eastman.
"Once the deal is to transfer responsibility for Eastman" Zona said.
Zona said the acquisition will help the two companies, two manufacturers have some overlapping products. He said that the products currently Solutia plant in Anniston are owned by and are not made by competing companies.
"They are supplemented by" Zona Solutia and Eastman said. "We do not build the same products."
In a recent press release, Eastman CEO Jim Rogers said the purchase will help the company to expand the global market.
"Solutia also emerging geographies, particularly in Asia Pacific will broaden our geographic reach."
...
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Friday, January 27, 2012
Amgen to purchase Micromet for $1.16 bn for Leukemia drug
NEW YORK: Amgen, the largest biotech company in the world, agreed to buy into a Micromet trading $ 1.16 billion to win an experimental drug for leukemia.
Investors of Micromet, based in Rockville, Maryland, will receive $ 11 per share, the companies said in a statement Thursday. The acquisition will give Thousand Oaks, California-based Amgen blinatumomab the compound, tested in two forms of blood cancer, acute lymphoblastic leukemia and lymphoma non-Hodgkin.
While Amgen spends $ 2.7 billion a year on research and development, the company has "a pretty empty pipeline" and needs a win to promising new products, said Geoffrey Porges, an analyst for Sanford C Bernstein in New York.
"This is not the end of acquisitiveness" for Amgen, Porges said in a telephone interview. "This is according to" swing for the fences »Amgen's world view, consistent with both the opportunities and risks in this respect."
Micromet rising $ 2.73, or 33%, to $ 11.01 at 8:37 a.m. New York time in trading before markets open. The biotechnology company has grown 23% during the 12 months prior to Thursday. Amgen shares fell 2 cents to $ 69.19, after the acquisition of 21% over the previous 12 months.
Porges refused to give a value to blinatumomab until you see the results of ongoing phase 2 trials. The next set of data for blinatumomab expected at the American Society of Clinical Oncology annual meeting in June 2011, wrote Robyn Karnauskas, an analyst at Deutsche Bank Securities in New York, in a note to investors.
It is unclear whether the drug will take swift approval by the Food and Drug Administration, wrote Karnauskas, saying that the acquisition is out of "core knowledge" Amgen region.
In a study in June, nine of 12 patients with blinatumomab reached complete remission from acute lymphoblastic leukemia, a cancer that affects about 5,760 people in the U.S. each year.
The offer values Micromet Amgen to about 31 times revenue, according to data compiled by Bloomberg.
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Investors of Micromet, based in Rockville, Maryland, will receive $ 11 per share, the companies said in a statement Thursday. The acquisition will give Thousand Oaks, California-based Amgen blinatumomab the compound, tested in two forms of blood cancer, acute lymphoblastic leukemia and lymphoma non-Hodgkin.
While Amgen spends $ 2.7 billion a year on research and development, the company has "a pretty empty pipeline" and needs a win to promising new products, said Geoffrey Porges, an analyst for Sanford C Bernstein in New York.
"This is not the end of acquisitiveness" for Amgen, Porges said in a telephone interview. "This is according to" swing for the fences »Amgen's world view, consistent with both the opportunities and risks in this respect."
Micromet rising $ 2.73, or 33%, to $ 11.01 at 8:37 a.m. New York time in trading before markets open. The biotechnology company has grown 23% during the 12 months prior to Thursday. Amgen shares fell 2 cents to $ 69.19, after the acquisition of 21% over the previous 12 months.
Porges refused to give a value to blinatumomab until you see the results of ongoing phase 2 trials. The next set of data for blinatumomab expected at the American Society of Clinical Oncology annual meeting in June 2011, wrote Robyn Karnauskas, an analyst at Deutsche Bank Securities in New York, in a note to investors.
It is unclear whether the drug will take swift approval by the Food and Drug Administration, wrote Karnauskas, saying that the acquisition is out of "core knowledge" Amgen region.
In a study in June, nine of 12 patients with blinatumomab reached complete remission from acute lymphoblastic leukemia, a cancer that affects about 5,760 people in the U.S. each year.
The offer values Micromet Amgen to about 31 times revenue, according to data compiled by Bloomberg.
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Wednesday, January 25, 2012
Va. gun purchase limits could be lifted
The Committee offers two other gun rights, which allow the background check on college campuses and would be far killed with firearms.
Handgun purchase on a per-month cap, under Democratic Governor Doug Wilder in 1994 in an effort to stop gun trafficking over placed Pro - gun lawmakers have tried to for years. But moderate Republicans and Democrats Senate committees and sub - committees always killed the bill to that effect.
Senate Courts of Justice Committee on Wednesday suggested that the bill originated Richmond has been friendlier to gun rights, the Republicans took control of this month, evenly divided Senate. But two other pro-gun bill failure indicated that the gun lobby will not get everything it wants the General Assembly session - with the GOP in control of the House, Senate and Governor's mansion.
"I definitely noticed a big improvement over what happened last year," said Philip Van Cleave, president of the Virginia Citizens Defense League. "But it's definitely a mixed bag."
Now take the limit of one per month bill heads to Senate floor, where it early next week, hope to get a final vote. Senate and House passage is expected. Gov. Robert F. McDonnell indicated that he will sign a bill.
"Of course it's going to pass the full Senate," said Senate Minority Leader Richard L. (D-Fairfax) Saslaw, who opposed the bill. "We become East Coast distribution center of the gun, as we were already going."
Sen. Charles W. Carrico (R-Grayson) have sponsored bills to limit lift.
"Now that we have background checks that we do not have in 1994, one month a gun has outlived its purpose," Carrico said.
Carrico noted the past few years, the law exempted law enforcement officers and the limit was changed for people with concealed weapons permits.
"When you're talking about second amendment rights, you do not [citizens afford them] to pieces, and some right and some do not."
The bill passed the committee 8-6, a Democrat, Roanoke with John S. Edwards, voted in favor of. A Republican, Senate Majority Leader James City Thomas K. Norment, was absent.
Carrico is a bill that would have prevented colleges from banning guns on campuses with was less fortunate. Gun rights advocates, suggested that wearing bright orange stickers "Guns Save Lives," is that armed students and faculty killed at Virginia Tech in 2007, when a shooter killed 32 people before taking his life, can prevent such tragedies.
Bill killed or injured in the attack, something that drew opposition from relatives of students. Don Challis, chief of police in the College of William and Mary also expressed his opposition to visit Richmond on Wednesday. Challis said he doubted that in that type of emergency, "a person who rarely, if ever, to shoot a weapon is going to be any kind of positive factors."
Bill Carrico continued next year in part because he expected to bring guns Virginia campuses, the number of students was unable to provide his colleagues agreed.
"I just wanted to not be amending the bill on the fly," he said.
Sen. Richard H. Black (R-Loudoun) also appeared before the Committee, a bill that the state would do away with background checks on gun buyers to promote. Black said that the federal background check, which he said were more efficient than those made by the state police can rely on.
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Handgun purchase on a per-month cap, under Democratic Governor Doug Wilder in 1994 in an effort to stop gun trafficking over placed Pro - gun lawmakers have tried to for years. But moderate Republicans and Democrats Senate committees and sub - committees always killed the bill to that effect.
Senate Courts of Justice Committee on Wednesday suggested that the bill originated Richmond has been friendlier to gun rights, the Republicans took control of this month, evenly divided Senate. But two other pro-gun bill failure indicated that the gun lobby will not get everything it wants the General Assembly session - with the GOP in control of the House, Senate and Governor's mansion.
"I definitely noticed a big improvement over what happened last year," said Philip Van Cleave, president of the Virginia Citizens Defense League. "But it's definitely a mixed bag."
Now take the limit of one per month bill heads to Senate floor, where it early next week, hope to get a final vote. Senate and House passage is expected. Gov. Robert F. McDonnell indicated that he will sign a bill.
"Of course it's going to pass the full Senate," said Senate Minority Leader Richard L. (D-Fairfax) Saslaw, who opposed the bill. "We become East Coast distribution center of the gun, as we were already going."
Sen. Charles W. Carrico (R-Grayson) have sponsored bills to limit lift.
"Now that we have background checks that we do not have in 1994, one month a gun has outlived its purpose," Carrico said.
Carrico noted the past few years, the law exempted law enforcement officers and the limit was changed for people with concealed weapons permits.
"When you're talking about second amendment rights, you do not [citizens afford them] to pieces, and some right and some do not."
The bill passed the committee 8-6, a Democrat, Roanoke with John S. Edwards, voted in favor of. A Republican, Senate Majority Leader James City Thomas K. Norment, was absent.
Carrico is a bill that would have prevented colleges from banning guns on campuses with was less fortunate. Gun rights advocates, suggested that wearing bright orange stickers "Guns Save Lives," is that armed students and faculty killed at Virginia Tech in 2007, when a shooter killed 32 people before taking his life, can prevent such tragedies.
Bill killed or injured in the attack, something that drew opposition from relatives of students. Don Challis, chief of police in the College of William and Mary also expressed his opposition to visit Richmond on Wednesday. Challis said he doubted that in that type of emergency, "a person who rarely, if ever, to shoot a weapon is going to be any kind of positive factors."
Bill Carrico continued next year in part because he expected to bring guns Virginia campuses, the number of students was unable to provide his colleagues agreed.
"I just wanted to not be amending the bill on the fly," he said.
Sen. Richard H. Black (R-Loudoun) also appeared before the Committee, a bill that the state would do away with background checks on gun buyers to promote. Black said that the federal background check, which he said were more efficient than those made by the state police can rely on.
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