Date: 2014-10-02
Type of information: Plant acquisition
Acquired company: Pharmachem Technologies (Grand Bahama), a Novasep subsidiary (France)
Acquiring company: undisclosed loval investor
Amount: undisclosed
Terms: * On October 2, 2014, Novasep, a leading supplier of manufacturing solutions to the life sciences industry, announced that it has completed the sale of the Bahamian facility and related business of its fully-owned subsidiary, Pharmachem Technologies (Grand Bahama) Ltd (Pharmachem), to a local investor. This facility produces a single product that is nearing the end of its life cycle and does not afford long-term viability for the site. Furthermore, the manufacturing capabilities of this facility did not support Novasep’s core strategy, which aims to position Novasep as a global supplier of contract manufacturing services for the Life Sciences’ molecules, based on a network of multipurpose synthesis facilities and differentiating technologies.In this context, the Group has sold the facility together with its business to a local investor who is focused on sustaining activity in the plant and maintaining local employment.
Details:
Related: Manufacturing Production
