WR Grace completes acquisition of Synthetech

18 November 2010 14:25  [Source: ICIS news]

TORONTO (ICIS)--WR Grace has completed its acquisition of fine chemicals firm Synthetech, the US-based specialty chemicals and catalysts producer said on Thursday.

“This acquisition provides Grace with additional capacity for the manufacture of specialty single-site and polypropylene catalysts used in the production of plastics, as well as adds to our discovery sciences offerings for the pharmaceutical industry, particularly in the area of drug development,” said Greg Poling, WR Grace vice president and president of the company’s Grace Davison business.

Grace acquired Synthetech for $1.163286/share, it said.

Grace had said earlier that the aggregate purchase price for the transaction would be around $19.2m (€14.2m), less Synthetech’s unpaid debt and transaction costs at closing, and subject to a minimum cash balance of $600,000.

($1 = €0.74)

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By: Stefan Baumgarten
+1 713 525 2653

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