Synthetech Acquired for $19.2M
Columbia, MD-based W.R. Grace & Co said today it has entered into an acquisition agreement with Albany, OR-based Synthetech, to purchase the chemical manufacturer for approximately $19.2 million. Synthetech manufactures fine chemicals, specializing in organic synthesis, biocatalysis, and chiral technologies, for use in the pharmaceutical and biotechnology industries. Its products are used in drugs to treat cancer, cardiovascular issues, AIDS, and other diseases. W.R. Grace says the company will be integrated into its specialty technology business, providing it with manufacturing capacity for specialty single-site and polypropylene catalysts used to make plastics, and expanding its discovery science offerings to include the pharmaceutical sector. Synthetech currently has 63 employees divided between the Oregon facility and an R&D location in San Diego.