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2006-09-20 News Release
DSM sells US pharmaceuticals
production site
DSM Pharmaceutical Products announces the sale of the assets and business
of their pharmaceuticals production site in South Haven, Michigan.
DSM Pharmaceutical Products, a Business Group of Royal DSM NV, has signed
an agreement with Albemarle
Corporation
of Baton Rouge, Louisiana USA , a world leader in custom fine chemical
manufacturing, regarding the sale of the assets and business associated
with DSM's pharmaceutical production site in South Haven, Michigan USA.
Terms of the deal, which is targeted for closing September 30, 2006, have
not been disclosed. This transaction will for DSM lead to a small book
profit. The completion of the acquisition is targeted for September 30,
2006.
Find
Information and Suppliers of pharma ingredients.
In December of last year DSM decided on exit by closure or divestment
of the South Haven site, which is focused on the production of generic
active pharmaceutical ingredients. The divestiture of the South Haven
site is an integral part of DSM Pharmaceutical Products' asset base restructuring,
as mentioned in DSM's Vision 2010.
"We are very pleased that through the transaction with Albemarle
we have been able to secure the future of the site and to safeguard the
employment of more than 100 of our people in South Haven", says Leendert
Staal, President of DSM Pharmaceutical Products.
Albemarle Corporation, Richmond, Virginia, is a manufacturer of polymers
and fine chemicals, including additives and intermediates used in agricultural
and cleaning products, drilling compounds, and more.
"The South Haven acquisition is another key move in our ongoing efforts
to reposition the Fine Chemicals division around services and higher value
activities," said John Nicols, Albemarle Vice President, Fine Chemicals.
"Our recent growth in fine chemistry services will benefit from South
Haven's expertise and capabilities in cGMP development and manufacturing.
Find
more Information about DSM.
Read a recent press release about - DSM's investment in a new polymer
plant in China consists of a major proportion of the production targeted
at packaging film producing companies in Asia Pacific.
Pharmaceutical
Jobs - Post Employment Opportunity!
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