Tessenderlo Group to Sell Pharmaceutical Ingredients Activities
The employee representatives of Farchemia in Italy and Calaire Chimie in France have been informed that the information and consultation procedures will be launched.
9 Oct 2012 --- Tessenderlo Group has the intention to sell its pharmaceutical ingredients activities, Farchemia and Calaire Chimie, to International Chemical Investors Group (ICIG), a private industrial holding company. The sale concerns two production sites in France and Italy.
The employee representatives of Farchemia in Italy and Calaire Chimie in France have been informed that the information and consultation procedures will be launched.
This divestment project is in line with the group’s strengthened focus on specialty products and services in the areas of food, agriculture, water management and valorizing bio-residuals.
Tessenderlo Group’s Pharma BU is a preferred supplier of intermediates and active pharmaceutical ingredients (API's) for major international pharmaceutical companies for both the branded and the generic markets. The activities in scope of this project employ about 360 employees.
Tessenderlo Group is a worldwide specialty company, focused on food, agriculture, water management and on valorizing bio-residuals. The group employs about 7,500 people and is a leader in most of its markets, with a consolidated revenue of 2.1 billion EUR in 2011. Tessenderlo Chemie NV is listed on NYSE Eurolist by Euronext Brussels and is part of Next 150 and BEL Mid indices.
International Chemical Investors Group is a privately owned industrial holding company focusing on mid-sized chemicals and pharmaceutical businesses. Since inception in 2004, ICIG has acquired 17 businesses, all of which have origins in major global chemical or pharmaceutical corporations and are independently managed. ICIG companies currently employ more than 3,300 people and operate 17 manufacturing facilities in Europe and the United States with total sales of approximately €700 million.
