HAUSER JOINS VENTURE
TO DEVELOP EXTRACTSHauser Chemical Research Inc., of Boulder, Colo., and Fries & Fries of Cincinnati will jointly develop vanilla extracts and other products for the food and flavor industries.
Hauser will provide production technology and Fries & Fries will provide marketing and distribution services.
The two firms anticipate signing a definitive agreement within 60 days.
The natural vanilla market in the United States, excluding the soft drink industry, is estimated at between $125 million and $150 million a year.
TO CHANGE ITS NAME
The Eastman Chemicals division of Eastman Kodak Co. will become Eastman Chemical Co. effective Jan. 1, 1990. It remains a wholly owned subsidiary of Eastman Kodak.
The company's chairman said the name change will help the Kingsport, Tenn.-based firm gain better recognition as one of the nation's larger chemical companies.
Eastman Chemicals' 1989 sales should reach approximately $3.5 billion, according to a company statement.
SWISS FIRMS EXTEND
BIDS FOR CONNAUGHT
BASEL, Switzerland - Leading Swiss chemicals group Ciba-Geigy and Institut Merieux of France both said Thursday they are extending their rival bids for Canadian vaccine producer Connaught BioSciences.
A Ciba-Geigy spokesman said in Basel that the Swiss company is extending its C$764 million offer in conjunction with U.S. company Chiron until Dec 13. The offer was first made Sept. 15.
In Paris, Merieux said it will extend its C$942 million offer for a fourth time to Dec. 11.
The extensions are necessary because Canadian authorities have not yet said if they will allow the bids to go ahead.
U.S. authorities, who are involved because of Connaught's activities in the United States, have already said they do not object.