Mergers and acquisitions
Green Biologics, a British renewable chemicals company that in December acquired the ethanol plant in Little Falls, Minn., said Wednesday it raised another $42 million in equity and $34 million mainly in debt financing. The latter amount included investment rolled over by members of the Central MN Ethanol Co-op in Little Falls who chose to invest in the new venture. Green Biologics plans to convert the plant to produce high-value green chemicals from corn.
Antofagasta Investment Co. Ltd., a subsidiary of the Chilean-based mining company, has closed on its previously announced agreement to acquire shares of Duluth Metals it did not already own. Toronto-based Duluth Metals is developing the Twin Metals Project, a copper, nickel, platinum mine in northeastern Minnesota. Duluth Metal shares will now be delisted from the Toronto Stock Exchange.
Summit Medical Inc., St. Paul, has received 510(k) clearance for its Sterrad 100NX Express Cycle, which enables fast turnaround for products such as endoscopes used for robotic surgery and a 4 Minute Steam Cycle for use with popular rigid containers.