International Chemical Investors Announce Acquisition of two Cambrex Fine Chemicals Facilities in Ireland and Belgium
LUXEMBOURG, FRANKFURT / PR Newswire-FirstCall, October 20th, 2006. International Chemical Investors Group (ICIG) announced today that it signed a definitive share purchase and sale agreement to acquire two fine chemicals businesses located in Ireland and in Belgium from the Human Health division of Cambrex. Under the terms of the agreement, ICIG will acquire 100 percent of the shares of Cambrex Cork Limited and Cambrex Profarmaco Landen NV. The transaction is expected to close in October.
The two facilities, which are located in Cork, Ireland and Landen, Belgium, manufacture small molecule active pharmaceutical ingredients (API) and advanced intermediates with reported combined sales of €34 million. As of Closing the two businesses will be renamed and become part of the newly established Corden Pharma, exclusively focusing on the pharma industry.
''We are delighted having the opportunity to complementing our present portfolio of fine chemical assets with two cGMP facilities in Ireland and Belgium. It is our plan to expand our existing pharma oriented businesses and to focus those activities within the Corden Pharma group, realizing synergies with WeylChem and PPC'' says Dr. Achim Riemann, Managing Director of ICIG.
''Corden Pharma will be the platform for our pharma related fine chemicals activities and we are looking forward to actively supporting both the Irish and the Belgian businesses in their organic growth as well as through further additional complementary acquisitions'' says Patrick Schnitzer, Managing Director of ICIG.
About International Chemical Investors
International Chemical Investors is an investment group focusing on mid-sized chemical businesses, preferably subsidiaries of large corporations, which are considered non-core, with leading positions in niche markets, operating in competitive environments. Recently International Chemical Investors acquired the French fine chemicals business PPC from Albemarle. Last year International Chemical Investors has acquired 6 separate businesses from the German RAG Group division RÜTGERS AG in addition to ENKA, a former subsidiary of Acordis. Including the newly established Corden Pharma businesses, ICIG will operate 13 production facilities located in Germany, the United States, France, Ireland, Belgium and Poland, employing more than 2,000 employees.
About Cambrex Human Health
The Human Health segment of Cambrex is a premier provider of products and services to the global life science industry. Its product portfolio includes active pharmaceutical ingredients for branded and generic drugs, advanced intermediates for branded drugs, and specialty intermediates for animal health, x-ray diagnostics, and other applications. Human Health also provides broad service offerings in the areas of custom development, and contract manufacturing.
International Chemical Investors Group
Sibel Cumcu, +49 69 5069990, email@example.com