Albemarle Corporation has announced the completion of its acquisition of the custom and fine chemicals businesses of ChemFirst Inc. for $74 million, plus approximately $5 million to reflect changes in the working capital actually transferred versus assumed working capital at Dec. 31, 2000.
“The acquisition creates strong synergies with our pharmachemicals and agrichemicals businesses,” said John Steitz, vice president – fine chemicals. “By joining our businesses, we now have an advanced portfolio of products with more chemistries, faster time to market and additional customer relationships. Our goal is to dramatically populate our new products’ pipeline for the future.”
Albemarle’s new businesses focus on the manufacture of custom and proprietary fine chemicals and chemical services for the pharmaceutical and life sciences industries. They also include additives for ultraviolet light-cured polymer coatings, broadening the portfolio of Albemarle’s polymer chemicals business. Included is a multi-functional manufacturing plant in Tyrone, PA, and a cGMP pilot plant in Dayton, OH, adding the capability to economically offer small-volume, value-added chemicals and versatile cGMP capacity, complementing Albemarle’s existing large-volume manufacturing facilities.
A global leader in specialty and fine chemicals that enhance consumer products, Albemarle Corporation serves markets for polymers, surfactants and biocides, pharmaceuticals, agricultural chemicals, photographic chemicals, water treatment and petroleum products.