ZaCh Systems acquires fine chemicals unit
for approximately $65m (€46.9m), which includes a pharmaceutical
fine chemicals facility in Texas.
The terms of the agreement were undisclosed, but ZaCh Systems, the fine chemicals subsidiary of Italy-based Zambon, will take on two facilities - the pharmaceutical fine chemicals plant in LaPorte, Texas, and the PPG-Sipsy facility in Avrille, France. PPG would retain operation of the phosgene derivatives facility in Texas. The acquisition reflected ZaCh Systems aim to increase its global presence and acquire a better position in the market place, while PPG moved to concentrate on its coating and speciality products business. Speaking to in-PharmaTechnologist.com, ZaCh System general manager Jean-François Marcopoulos said: "The acquisition of PPG's fine chemical was an opportunity to enhance our technology and commercial reach but also to equilibrate our business segments." The fine chemicals business unit manufacturers, through a variety of technologies, active pharmaceutical ingredients and intermediates, including chiral products, protected amino acids and carbonylating agents. The Texan facility is a 380 to 760 L validated pilot plant with 3,800 to 7,600 L reactors. It has been engineered for low temperature, fully integrated phosgenation, and catalytic hydrogenation. The French facility is a 50 to 400 L validated pilot plant with 100 to 10,000 L reactors with the capability for world-scale metal hydride reductions, pyrophoric/hazardous reactions, catalytic hydrogenation and freeze-drying, spray-drying and micronisation. Marcopoulos said the company intended to keep all acquired products and continue to develop them. There was no intention to move or downsize any production at the two facilities, he said. The business would be combined with the company's existing business "and set the conditions for more growth but leveraging a better critical mass and diversity" with the aim to grow the facilities as R&D and production excellence centers. PPG's selling off of the business follows last week's divestiture of the US company's auto glass businesses, which included automotive original equipment manufacture (OEM) glass and automotive replacement glass (ARG) and services businesses. PPG signed an agreement with Platinum Equity to sell the businesses for approximately $500m. "Following last week's announcement of our potential divestiture of our auto glass businesses, this transaction is yet another step toward achieving PPG's vision of continuing to be the leading coatings and speciality products and services company," PPG chairman and chief executive Charles Bunch said in a statement. "This sale will also provide us with more resources to pursue profitable growth in coatings, aerospace, optical products and opportunities in Asia," he said. The completion of the transaction is expected in the fourth quarter and is subject to customary closing conditions.
