07 October 2005 16:08 [Source: ICIS news]
NEW YORK (ICIS news)--Reilly Industries’ pyridine and Morflex businesses were the primary targets of Arsenal Capital Partners’ $250m (Euro206m) acquisition of controlling interest in the company, an Arsenal executive said this week. ?xml:namespace>
Reilly is the world’s largest pyridine and pyridine derivatives producer, which made the pyridine business the main attraction for Arsenal. The company will continue Reilly’s expansion plans for its ?xml:namespace>
Arsenal also owns Rutherford Chemicals, which, “does a lot of pyridine derivatives for the pharmaceutical intermediate and fine chemicals segments,” said Siadat. “There are some synergies and opportunities between the two businesses.”
Longer term, Siadat said he is excited about the other businesses in the Reilly stable.
“We are particularly interested in polymer additives, where Reilly has a nice business in Morflex,” said Siadat. Morflex produces citrates, a non-phthalate plastic additive used in food packaging, toys and medical applications.
“With increasing concern about phthalate safety, there is a real opportunity here and we would like to invest in and grow that business,” said Siadat.
Arsenal remains interested in acquiring chemical firms and is about a week away from announcing another ‘good-sized’ chemical acquisition, Siadat said.
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