Piramal Enterprises, the Mumbai-based API services giant, has acquired the US CDMO Ash Stevens via its local subsidiary in all-cash deal for $42.95 million plus an earn-out bonus of up to $10 million. This is expected to be completed by the end of August, with no regulatory approvals being needed as Ash Stevens was privately owned.
Swiss CMO Siegfried has reported financial figures for 1H 2016 that show a doubling in API sales following the acquisition of three former BASF sites in Europe, although the integration process did reduce its operating margin. The company said that integration is “well on track”.
Tanatex Chemicals, the Netherlands-based textile chemicals maker, has been sold to Zhejiang Transfar of Hangzhou, China, a vehicle of the Transfar Group, in a deal that is expected to close within Q3, subject to regulatory approval. Once this is complete, Tanatex will continue to operate as an independent entity within the Transfar Group, using the same brand. Terms were not disclosed.
Albemarle has agreed to acquire the lithium hydroxide and lithium carbonate conversion assets of Jiangli New Materials in China’s Jiangxi and Sichuan provinces as part of a strategic goal of “capturing 50% of the growth in the lithium industry”. The deal, for which terms were not disclosed, should close in Q1 2017, subject to regulatory approvals and other customary closing conditions.
Israel’s Frutarom Industries, which claims to be one of the world's ten largest companies in the field of flavours and speciality fine ingredients, has made its sixth acquisition of 2016 in the form of Redbrook Ingredients Services. The €40 million deal includes a mechanism for more to be paid based on future performance.
Alcami, which was formed earlier this year by the merger of AAIPharma Services and Cambridge Major Laboratories, is to expand in the field of high potency APIs (HPAIs) at its main site in Germantown, Wisconsin, during 2016 and 2017. The company said that this will both position it to meet the demands of a growing HPAI market and strengthen its end-to-end offer alongside its existing presence in the potent drug product market.
BASF has opened its first production plant for construction chemicals in Sri Lanka, at the Lindel Estate at Sapugaskande, just outside the capital, Colombo. It will make concrete admixtures product ranges like MasterGlenium, MasterPolyheed, MasterRheobuild and MasterPozzolith, plus other construction chemicals in the Master Builders Solutions brand. Facilities also include a testing laboratory, office and warehouse.
Lonza has agreed to acquire InterHealth Nutraceuticals, a California-based specialist in nutritional ingredients for use in dietary supplement from Kainos Capital for a total transaction price of up to $300 million, including potential earn-out payments. The deal is expected to close in September and be immediately accretive to Lonza’s earnings.
Published: August 1, 2016
The major speciality chemical distributor has added the US to its worldwide presence.