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Lonza to Sell its Performance Urethanes and Organics Business to Monument Chemical

Published on 2012-12-03. Author : SpecialChem

BASEL, Switzerland and INDIANAPOLIS, USA -- Lonza Group and Monument Chemical recently announced the signing of a definitive agreement for the sale of substantially all of the assets of Lonza Group's USA Performance Urethanes and Organics business located in Brandenburg, KY. Formal closing of the agreement is expected prior to year end.

"We are pleased to have found a strategic owner for our Brandenburg facility," said Richard Ridinger, Chief Executive Officer of Lonza. "While performance urethanes operations is not core to the Lonza portfolio the divestiture of the assets provides the Brandenburg business, with the foundation for continued growth and expansion. Additionally, Lonza can continue to focus on further shaping and moving forward with our strategic activities."

Amy Schumacher, President of Monument Chemical, said, "We are excited about the acquisition of the Brandenburg facility - the latest example of Monument Chemical's continued investment in and growth of its portfolio. The addition of the performance urethanes and organics business provides a strong strategic foundation that will benefit the suppliers, customers and employees of the Monument family."

As part of the Arch Chemicals Inc. acquisition in October, 2011 Lonza considered the divestiture of certain Arch business and assets. A formal divestiture process for Brandenburg was initiated in July of 2012. The Arch Performance Urethanes and Organics Business has been a leading supplier of specialty urethane and organic chemicals for over 40 years, developing and manufacturing products used in applications including products for coatings, adhesives, sealants and elastomers ("CASE"), flexible and rigid foams, coolants and solvents. The Business also supplies polyols, glycols and glycol ethers for such industrial applications as coolants, solvents and food additives.

Financial terms have not been disclosed.

About Lonza

Lonza is one of the world's leading suppliers to the pharmaceutical, healthcare and life science industries. Products and services span its customers' needs from research to final product manufacture. It is the global leader in the production and support of active pharmaceutical ingredients both chemically as well as biotechnologically. Biopharmaceuticals are one of the key growth drivers of the pharmaceutical and biotechnology industries. Lonza has strong capabilities in large and small molecules, peptides, amino acids and niche bioproducts which play an important role in the development of novel medicines and healthcare products. Lonza is headquartered in Basel, Switzerland and is listed on the SIX Swiss Exchange. In 2010, the company had sales of CHF 2.680 billion.

Source: Lonza

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