Europe

Even the largest names in pharmaceuticals need some help from their friends from time to time, as Alan Swaby learns in discussion with Penn Pharma.

A career in pharmaceutical R&D is not for those with a short attention span. Perhaps growing bonsai needs more patience; but the painstaking search for new drugs can’t be far behind. Even when an exciting breakthrough is made in the form of a promising new molecule, the hard grind has barely begun.

Anglo-Australian miner Rio Tinto has made a A$3.5 billion bid approach for Africa-focused Riversdale Mining, in a move likely to spark a bidding war.

Premier Foods has today responded to speculation about a bid by the Swiss consumer goods giant Nestlé to buy its meat-free range, Quorn.

Nestlé is said to have submitted an offer for Quorn via it its subsidiary Osem Group, the majority-owned Israel-based Nestlé venture that specialises in ethnic foods.

Johnson Controls, a major US-based supplier of automotive seating systems, interior components and electronics, has signed a purchase agreement to acquire the C. Rob. Hammerstein Group (CRH).

CRH is a global supplier of metal seat structures and mechanisms and is recognized for its high level of quality. CRH's headquarters and main development facilities are based in Solingen, Germany.

France’s Technip has won a major contract from Algeria’s national oil company Sonatrach to refurbish and revamp its Algiers refinery.

The lump sum turnkey contract, which is worth around 67.9 billion Algerian dinars (approximately €690 million) will last 38 months and cover the execution of the complete scope of works, including the design, supply of equipment and bulk material, construction and start-up.

Royal Dutch Shell and Russia's Gazprom have signed a co-operation agreement that will see them exploring for more oil together in western Siberia and the far east of Russia.

As part of the deal, Shell has agreed to let Gazprom share some of its overseas projects in return for Shell being allowed to develop the third and fourth stages of the Sakhalin project in Sakhalin Island, Russia. Sakhalin 3 alone contains 1.4 trillion cubic metres of gas.

ABB has won an order worth $43 million from South African electric utility Eskom to supply equipment for a new thermal power plant being built in Mpumalanga, South Africa.

The new Kusile coal-fired plant comprises six supercritical combustion units with a total generating capacity of 4,800 MW.

Greenergy, a supplier of fuel to UK supermarket petrol stations, has launched a £1 billion bid to buy the UK retail network of Total France.

The French oil major, which is the world's fourth largest energy group, is selling its 780 petrol station forecourts as part of a review of its UK downstream operations.

Greenergy's new chief executive Paul Lester said he had held preliminary talks with Total about the sale.

Based in Russia, Vagonmash has achieved a number of firsts in the railway car production sector; and with a commitment to innovation and excellence in design, the company is continuing to go from strength to strength.

Last week the European Commission said: "The EU pays the price for its outdated and poorly interconnected energy infrastructure." Today the European Wind Energy Association (EWEA) publishes a new report with a vision for a modern renewable energy power system, which sets out how the grid can integrate increasing amounts of wind energy.