Avecia sells off nitroglycerin business
subsidiary to Copperhead Chemical of the US.
The SDM business is focused on the production of a line of standard and custom nitroglycerin mixtures, which are used in the treatment of angina and congestive heart failure.
"Copperhead Chemical is the exclusive manufacturer of the active ingredient nitroglycerin used by the SDM business, and this acquisition will bring us closer to the customer base that we have served indirectly for many years," said Eric Brooks, president of the US company.
In addition to the SDM business, Copperhead is a current Good Manufacturing Practice-approved custom manufacturer of various specialty products, including microencapsulated food ingredients and specialty laboratory chemicals.
It also makes energetic ingredients for use in propellants and munitions for the defence and commercial markets.
For Avecia, the sale somes after a series of divestments - notably of its additives and biocides businesses - as it focuses on its core cabalities in chemicals, biotechnology and resins.