SI Group to Acquire Antioxidants, Ibuprofen and Propofol Businesses from
SCHENECTADY, N.Y., April 16, 2014 /CNW/ - SI Group, Inc. announced today that
it has signed a deal to acquire the Antioxidants, Ibuprofen, and related
businesses and assets from Albemarle Corporation (NYSE:ALB). The transaction
includes manufacturing sites in Orangeburg, South Carolina, United States and
Jinshan, China. This deal expands SI Group's antioxidants business and will
position the company as one of the top three global suppliers of Ibuprofen.
"It's the largest deal in SI Group's history," said Frank Bozich, SI Group
President & CEO. "This acquisition is a natural fit to our expansion strategy,
transforming SI Group into a solutions leader in the global antioxidant and
pharmaceutical active ingredients markets."
The acquisition will include Albemarle's antioxidant product lines, as well as
the FDA-regulated Ibuprofen and Propofol businesses. In addition, applications
and technical support capabilities in Shanghai and Baton Rouge, Louisiana,
United States will be included in the transaction.
"This acquisition is a major step in SI Group's strategy of expanding into
complementary, faster growing markets while at the same time continuously
improving our core business through business excellence," said Stephen Haller,
Senior Vice President of Strategy and New Business Development.
Subject to the required regulatory approvals, this acquisition is expected to
be completed later this year. Additional information about SI Group may be
found at www.siigroup.com.
About SI Group
SI Group is a leading global developer and manufacturer of chemical
intermediates, specialty resins, and solutions. Founded in 1906 and
headquartered in Schenectady, New York, SI Group is a family-owned company
with facilities in 10 countries. For more information about SI Group, visit
Contact: Brooke Manrique Public Relations & Marketing Communications Manager
SI Group, Inc. + 1 518-347-4112 firstname.lastname@example.org
Logo - http://photos.prnewswire.com/prnh/20130204/NY53537LOGO-b
SOURCE SI Group, Inc.
PRN Photo Desk, email@example.com
To view this news release in HTML formatting, please use the following URL:
CO: SI Group, Inc.
NI: HEA MTC CHM BTC MNA ORDER
-0- Apr/16/2014 20:03 GMT
Press spacebar to pause and continue. Press esc to stop.