Advertisement
Corporate News

Corporate News

Manufacturing, policy conference returns to in-person format next week

The Delaware State Chamber of Commerce and Delaware Manufacturing Association are bringing back an annual manufacturing and policy event to an in-person format after a four-year absence. The event will run from 9 a.m. to 12:30 p.m. in Dover. One hot topic will be supply chain issues. According to a Deloitte survey, 72% of executives believe the persistent shortage...

Incyte reports positive results in 2-year trial of drug used to treat loss of skin pigment

Incyte announced positive two-year results from the pivotal Phase 3 TRuE-V clinical trial program evaluating Opzelura  (ruxolitinib) cream 1.5% in patients 12 years of age and older with nonsegmental vitiligo, a chronic autoimmune disease characterized by the loss of pigment of skin. Incyte is based near Wilmington. The 104-week long-term extension (LTE) data builds on studies previously published in The New...

Bill introduced that would boost standard deduction, Earned Income Tax Credit

Legislation that makes the standard deduction for personal income taxes availble to more taxpayers has been introduced. The bill also increases the the Earned Income Tax Credit for lower income residents.. House Bill 89, sponsored by State Rep. Paul Baumbach and Senate Pro Tem Dave Sokola, was introduced in the House. House Bill 89 increases the standard deduction...

Export-Import Bank President to speak at World Trade Center event

(Photo of Lewis) Delaware businesses, attorneys, bankers, and economic development leaders are invited to a forum on export financing and global trade featuring Reta Jo Lewis, the president and chair of the Export-Import Bank of the United States (EXIM), on March 27. Registration is currently open at wtcde.com, with a March 20 deadline. The forum will be held from 8 a.m. to...

Coons and Cornyn introduce bills aimed at spurring hydrogen energy uses

(Bloom Energy photo of research into the use of hydrogen in ships) U.S. Sens.  Chris Coons (D-Del.) and John Cornyn (R-Texas) today reintroduced their bipartisan Hydrogen Infrastructure Initiative, a package of four bills to support the adoption of hydrogen in energy-intensive sectors.  Senators Ben Ray Luján (D-N.M.), Bill Cassidy (R-La.), John Hickenlooper (D-Colo.), Lisa Murkowski (R-Alaska), and Martin Heinrich (D-N.M.) are also cosponsors. Hydrogen does not emit...

Airline notes: Antitrust suit over Spirit-Jet Blue merger; Family seating fee dashboard rolled out

It came as no surprise when the antitrust arm of the U.S. Justice Department went to court to block the acquisition of Spirit airlines by Jet Blue. Both carriers offer flights out of Philadelphia and Baltimore-Washington and both are incorporated in Delaware. Jet Blue is about twice as large as Spirit. “As our complaint alleges, the merger of JetBlue and...

Warm winter, lower prices trigger Delmarva natural gas rate cut

The Delaware Public Service Commission approved a 23% decrease in Delmarva Power’s natural gas costs, effective April 1st. Late last month, Delmarva Power filed an application to amend its Gas Cost Rate due to a warmer-than-expected winter and lower-than-expected natural gas prices over the past several months. The rate represents the total purchased gas cost for natural gas service....

Solenis to acquire marketer of Dove, Lysol brands in $4.6 billion deal

Solenis and Diversey Holdings, Ltd. entered into a definitive merger agreement under which Solenis will acquire Diversey in an all-cash transaction valued at about $4.6 billion. Upon completion of the merger, Diversey will become a private company. Diversey's brands include household names such as Dove, Lysol and Air Wick. Products range from body washes to oven cleaners and...

ILC Dover adds tubing pharma product line

 Newark-based ILC Dover a company specializing in single-use products for pharmaceutical processing is now offering platinum-cured silicone tubing to expand its liquid handling portfolio. Used for a variety of applications throughout the biomanufacturing process ILC Dover's platinum-cured silicone tubing is designed for biopharmaceutical fluid transfer processes. "As an integrated solutions provider to companies of all sizes across the...

IFS Benefits sold to international insurance broker

AssuredPartners has acquired IFS Benefits, LLC, based near Newark. Founded in 2001, IFS specializes in providing employee benefits insurance products and services to clients in Delaware. The staff of 17 will remain under the operational leadership of former owners Steve Blewitt and Bob Sonchen. “At IFS, we have always been committed to delivering customized benefit...

Solenis completes purchase of paper chemical business

Solenis has completed its previously announced acquisition of the paper process chemicals business of Kolb Distribution Ltd., a unit of Swiss-based KLK Kolb Group. The deal also includes a long-term supply agreement, in which the KLK Kolb Group will manufacture paper process chemicals exclusively for Solenis. “Bringing together the Kolb team with our consumer solutions business adds to our ability...

Inaugural life science conference coming in May

A collection of life science sector leaders will participate in inaugural Delaware’s DNA: 2023 Life Science Conference on Thursday, May 11. The event, hosted by the Delaware BioScience Association (Delaware Bio), will bring together regional and national biomedical researchers, business leaders, investors and policymakers for a day-long program of  panel discussions and expert speakers on industry issues. Conference headliners include Delaware...

Chesapeake Utilities reports higher earnings in 2022

Chesapeake Utilities Corporation, Dover, announced higher earnings  for 2022. For 2022, net income was $89.8 million compared to $83.5 million for 2021. Full year earnings were driven natural gas transmission pipeline expansions,  incremental contributions from regulated infrastructure programs, internal growth in the company's businesses aned a Florida interim rate increase. Chesapeake, based in Dover, operates pipelines, natural gas utilities, propane distributors  and an electric...

Delaware refinery owner PBF reports strong earnings for 4th quarter, year

Delaware refinery owner PBF Energy saw earnings soar while shrinking its debt load down to zero in 2022. New  Jersey-based PBF is one of the largest independent refiners in North America, operating, through its subsidiaries, refineries and related facilities in California Louisiana, New Jersey and Ohio, as well as Delaware. The company got its start during the economic downturn more than a decade ago by purchasing...

Bloom Energy posts loss as company gears up to work through $10 billion backlog in orders

Fuel cell maker Bloom Energy Corporation passed the $1 billion mark in revenue for 2022, as it posted higher losses in gearing up for a working through a multi-billion dollar backlog in orders. The earnings performance blew past consensus estimates from Zacks. Bloom has never posted a profit. Bloom, based in San Jose, CA has a 700-employee site...
Advertisement