Tag: New Castle County

Agribusiness from Europe Establishes U.S. Headquarters in Delaware

Agribusiness from Europe Establishes U.S. Headquarters in Delaware

16 JULY, 2018

When it came time for Belchim Crop Protection to decide on the home for its United States headquarters, the European company looked at the Research Triangle in North Carolina. It looked in Kansas City and it looked in Dallas.

So, naturally the agribusiness has set up HQ in a business park on Centerville Road where Prices Corner meets Greenville.

Now, the company with a growing portfolio of insecticides, herbicides, fungicides and other biological products is poised to take a larger market share in the U.S.

Last year, Belchim, which reported $600 million in sales in 2017, acquired Prescott, Arizona-based Engage Agro USA, laying the groundwork for major U.S. expansion.

The U.S. arm of Belchim plans $50 million in growth over the next three years. U.S. general manager Tom Wood said the growth will be aimed at expanding from niche fruit and vegetable crops into large row crops like corn.

Most of Belchim’s U.S. customers are on the west coast. The expansion into row crops will open up east coast markets like Delaware, where corn and soy crops are aplenty. Wood said Belchim is going to bring a unique herbicide to the U.S. market that is not there today.

Setting up in Delaware, of course, puts Belchim in the backyard of DuPont, which will live in on Delaware with its Corteva Acgriscience spinoff. Chemical giant FMC also makes Philadelphia its home. Belchim and FMC worked together in 2013, when Belchim granted FMC exclusive rights to develop, register, manufacture and sell Belchim’s proprietary fungicide valifenalate, in North America, Latin America and elsewhere.

Belchim later bought back FMC’s stake in the company after FMC acquired Cheminova.

“It’s a David and Goliath story,” Wood said. “We’re up against giants.

“Our strategy is not to go head-to-head with the basics like Corteva and not to go head-to-head in national distribution… Our strategy is to provide something for those types of companies from a life cycle management perspective. We fill the gaps particularly on weeds that escape their products.

“So it’s something they can add to their portfolio that is cost effective for them, for the grower and allows us to participate in market and take a market share without threatening the giants in any way.”

Belchim currently has just 12 employees in the U.S., up from seven at the beginning of the year. Some of those are out in the field working in regional sales positions across the country.

Four employees work full-time out of Delaware. Wood, a Chester native, said Belchim could have around a dozen or so employees in Delaware in two years.

“We will bring a unique herbicide to the U.S. market that is not there today,” he said. “So it will be a new innovation that the growers will appreciate. They’re already using it in mint crops as an emergency use approved by the EPA. It just gets the really tough weeds that no one else can get and it works well with every major herbicide out in the market.

“A lot of companies will enter the United States and come in with a, ‘Me, too.’ We will have something new that hasn’t been seen in the United States for years or they’ve never seen before.

“Once people start seeing our portfolio, they invite us back.”

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Feds Say no Further Review Necessary for Port of Wilmington Takeover by Emirati Company

Feds say no further review necessary for Port of Wilmington takeover by Emirati company

28 JUNE, 2018

The terms of the pending 50-year deal would see the state continue to own the land under the nearly 100-year-old Wilmington port while Gulftainer would take over operations of the facility, which sits at the confluence of the Christina and Delaware rivers. The federal sign-off means the final terms must now be ratified by the Diamond State Port Corp., the port’s quasi-public operating board. 

BACKGROUND

General Assembly endorses port privatization plan

Gulftainer chief promises jobs as board gives blessing to port privatization effort

“This is a significant step forward in finalizing our agreement with Gulftainer, which will protect and create good-paying, blue collar jobs at one of Delaware’s most important employment centers,” Carney said in a written statement. 

State officials say the deal could double the 5,700 port and maritime-related jobs in Delaware.

The General Assembly signed off on the deal earlier this year, leaving the Committee on Foreign Investment in the United States (CFIUS) as the only approval outside the port necessary, officials said. 

 

That committee is tasked with reviewing transactions that could result in control of a U.S. business by a foreign person in order to determine the effect of such transactions on national security. The panel is comprised of military, homeland security, federal law enforcement officials and others. 

Wilmington would be Gulftainer’s second U.S. port. The company, based in the United Arab Emirates, opened a container facility in Canaveral, Florida, in 2015. The company has ports in the UAE, Lebanon, Iraq, Saudi Arabia and Brazil and is a subsidiary of the Crescent Enterprises, a privately held UAE conglomerate. 

Earlier this week, Thomas P. Feddo, deputy assistant secretary of Investment Security for the Department of Treasury informed an attorney representing the state that the deal is not covered under the Defense Protection Act. That act gives the president authority to review certain transactions involving foreign entities. 

 

Secretary of State Jeffrey Bullock said having the dozens or so federal agencies review the deal and declare no further review is necessary is the “best response we could have received” and clears the way for finalization of the deal. 

The board already signed off on the basic terms of the agreement earlier this year. 

Gulftrainer CEO Peter Richards has said Gulftainer plans to pour $73 million into the existing port through the next decade to modernize operations. 

 

The deal also calls for the development of a new container facility on state-owned land that was home to DuPont Co.’s Edge Moor chemical production facility to be finished by the first of 2024. Richards called it a $400 million investment. The state bought the 114-acre property from Chemours for $10 million in 2016.  

This article was originally posted on the Delaware News Joural at: https://www.delawareonline.com/story/news/2018/06/28/feds-sign-off-port-wilmington-takeover/739984002/

 

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Uber for Packages: Delaware’s DeliveryCircle will Remain in State

Uber for packages: Delaware’s DeliveryCircle will remain in state

20 JUNE, 2018

When it came time to search for funding, Delaware-based DeliveryCircle faced a dilemma: Let investors on the West Coast move their operation across the country or find money that would enable the delivery service company to stay where it’s rooted.

“I personally always wanted to stay in Delaware,” said CEO and founder Vijaya Rao. “I had been pushing back.”

DeliveryCircle works in a similar way as tech transportation companies such as Uber and Lyft, except it deals in packages instead of people. Drivers on the platform run the gamut from professional couriers, stay-at-home moms, seniors and part-time contractors.

The business that launched in February 2014 got the best of both worlds when it came to new financing. DeliveryCircle announced last week it had raised a “significant minority investment” from financial and strategic supply chain investors, led by Cambridge Capital, NFI and other strategic investors.

Now based at the Christiana Corporate Center after graduating from the incubator at New Castle County’s Emerging Enterprise Center, DeliveryCircle will continue its rapid expansion in the ever-growing delivery service space.

Rao said the strategic partnership is “not just somebody giving us a checkbook.” The supply chain investors, she said, will better position DeliveryCircle to continue to grow as “last mile delivery” from businesses to consumers becomes more critical, especially in same-day service, which DeliveryCircle now provides in 19 states and more than 5,000 zip codes.

For perspective, the startup opened service with five drivers and 20 zip codes. There are now more than 900 drivers – all are contractors – on the platform, Rao said.

The company has just eight employees but some funding will go toward hiring back office management and finance positions in Delaware, Rao said.

Staying in Delaware was more than just staying where the company has been rooted. The space between New York and D.C. has proved to be a good location so far.

“We have kind of saturated that belt,” Rao said. “Of course, there is still room to grow. For us it makes sense.”

The company has national aspirations, though.

Rao said the company has grown 300 percent year-over-year during the last three years.

DeliveryCircle’s software and mobile application enable clients to match package sizes with a pool of professional, safe drivers and a variety of vehicle types.

“It’s no longer a hypothesis of a model,” Rao said. “It’s very much a working model.”

Originally, Rao said DeliveryCircle focused on being a business-to-business company. But as activity in the retail space increased, the demand to adapt into a business-to-consumer model increased.

On its website, DeliveryCircle says it works with brands such as Zoe’s Kitchen, Honeybaked Ham, Philly Foodworks and other food companies. Rao said DeliveryCircle also has contracts signed with larger brands and retailers for delivery services.

Most of the small companies DeliveryCircle works with come from referrals, Rao said. The company has not spent any money on marketing.

Rao said money from last week’s Series A funding announcement will go to hiring more full-time employees, business development and the continued geographical growth.

Moving west, it appears, was inevitable anyway.

Contact reporter Jeff Neiburg at (302) 983-6772, jneiburg@delawareonline.com or on Twitter @Jeff_Neiburg.

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Adesis Grows Business and Expands its Fundamental Chemistry Capabilities in Delaware

Adesis Grows Business and Expands its Fundamental Chemistry Capabilities in Delaware

Partnering with Delaware Innovation Space, Inc.

11 DECEMBER, 2017

Adesis, Inc., a wholly-owned subsidiary of Universal Display Corporation (Nasdaq: OLED), today announced that it will open a new suite of state-of-the-art laboratories in Delaware and expand its organic chemistry team and R&D programs. This additional footprint is expected to help drive growth opportunities in areas including next-generation OLED (organic light emitting diode) emitter and host materials and meet the growing demand for the Company’s custom organic synthesis, research & development, and specialty manufacturing services. Adesis also announced that it became a sponsor of Delaware Innovation Space (DISI) and joined its entrepreneurial innovation community. Working with DISI, Adesis signed an agreement for approximately 7,000 square feet of laboratory space at the Experimental Station in Wilmington, Delaware. The new suite of laboratories, which includes additional ancillary work and meeting space, is expected to augment Adesis’ on-going operations and recently-purchased 47,500 square feet headquarter building in New Castle.

“Delaware is home to a number of great chemical and manufacturing companies like Adesis, who are committed to making a world-class product with a great local workforce,” said U.S. Senator Christopher Coons (D-Del.). “I am delighted to see Adesis and their parent company UDC grow in Delaware as they expand their market reach and product offerings to more users around the world.”

“We are pleased to announce our expanding footprint and increased investment to further boost research, innovation and job opportunities in Delaware,” said Andrew Cottone, President of Adesis, Inc. “As a leading organic synthesis CRO (contract research organization), we are adding to and extending our discovery services and process development capacity for customers across the pharmaceutical, chemical, biomaterials, and catalysts industries. We are enhancing our productivity and effectiveness by streamlining the technology transfer and optimizing the workflow from basic research to specialty manufacturing. Furthermore, by co- locating in our New Castle headquarters and the Experimental Station, we believe that we are building a world-class technology and manufacturing hub to support our customers from innovation to commercialization.”

“Adesis continues to invest in Delaware, and we are thrilled that the company will bring its long track record of innovation to the Delaware Innovation Space,” said Governor John Carney. “We partnered with DuPont and the University of Delaware to create the Innovation Space to foster growth of early-stage scientific- based companies, and encourage collaboration among Delaware’s most talented innovators. The addition of Adesis will support that mission, and we’re thankful for the company’s continued partnership.”

This recent expansion by Adesis was rapidly enabled by the seamless cooperation of the Delaware government and business leaders who have fostered a robust scientific ecosystem.

“The Delaware Innovation Space is pleased to be able to support the growing needs of Adesis and accelerate its business forward right here in Delaware,” said Bill Provine, CEO of the Delaware Innovation Space. “Adesis will be a great new member of our science-based innovation community, and we look forward to working with them to further capitalize on the strengths of our new entrepreneurial ecosystem.”

Adesis has also been assisted by the newly formed Delaware Prosperity Partnership (DPP). The DPP was recently created by Delaware as a public/private partnership to accelerate economic development efforts.

“It has been a pleasure working with Andrew Cottone and Adesis to help facilitate their Delaware expansion, both in New Castle and at the Delaware Innovation Space,” said John Riley, Interim CEO of the DPP. “This would have been difficult to accomplish had the State, DuPont, and the University of Delaware not set the foundation for success with the formation of the Delaware Innovation Space earlier this year.”

About Adesis, Inc.

As a wholly-owned subsidiary of Universal Display Corporation, Adesis, Inc. is a contract research organization (CRO) supporting the pharma, biotech, catalysis and a number of other industries. The CRO specializes in organic and organometallic synthesis, in milligrams to multi-kilogram quantities. Adesis has a business model of providing clients with organic chemistry services in three areas: early stage research, scale up and development, and specialty manufacturing. With over 20 years of success and approximately 60 chemists with extensive industry and professional experience, Adesis supports companies in various industries with small molecule organic chemistry expertise. Adesis provides a range of services that can supplement research and development efforts. It can also act as a specialty manufacturer to reinforce supply chains. To learn more about Adesis, please visit http://adesisinc.com/.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in developing and delivering state-of-the-art, organic light emitting diode (OLED) technologies, materials and services to the display and lighting industries. To learn more about Universal Display Corporation, please visit http://www.oled.com.

About Delaware Innovation Space, Inc.

As home to one of the nation’s first and most successful entrepreneurial ventures founded by Eleuthére Irenée du Pont in 1802, Delaware’s legacy of transformational scientific innovation continues with the establishment of the Delaware Innovation Space, Inc. in 2017. The organization is a vital resource in the scientific startup ecosystem and is a non-profit, public-private partnership that offers multi-dimensional, resource-rich support for scientific entrepreneurs at the Experimental Station campus in Wilmington, Delaware. Delaware Innovation Space offers a centric location and proximity to world-renowned research institutions, global multi-national corporations and a thriving scientific innovation community. More information is available at https://deinnovates.org.

About Delaware Prosperity Partnership

The Delaware Prosperity Partnership (DPP) was formed in 2017 as a private entity to lead the state of Delaware’s economic development efforts. Establishment of this private entity was a critical step to enhance the state’s ability to attract, grow and retain companies; to build a stronger entrepreneurial and innovation ecosystem; and to support private employers in identifying, recruiting and developing talent.

This initiative brings together the resources, commitment, and energy of both public and private sectors and is charged with certain tasks related to economic development. As Delaware faces a more competitive environment and intense global competition for businesses, the DPP will provide the strategic direction for the state’s economic development activity by tapping private sector expertise and resources to work in conjunction with the state.


All statements in this document that are not historical, such as those relating to the Company’s technologies and potential applications of those technologies, the Company’s expected results and future declaration of dividends, as well as the growth of the OLED and CRO market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward- looking statements in this document, as they reflect the Company’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s annual report on Form 10-K for the year ended December 31, 2016. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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