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Article: Degussa sheds vitamin B3 unit to Reilly Industries.(News)
- Article from:
- Chemical Market Reporter
- Article date:
- September 8, 2003
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Copyright informationCOPYRIGHT 2003 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DEGUSSA AG has agreed to sell its vitamin B3 business to its long-standing partner, Indianapolis, Ind.-based Reilly Industries Inc., in a two-stage transaction. Financial terms of the arrangement have not been disclosed, but the deal is a key component of Reilly's growth strategy.
Until the deal gains governmental approval, Degussa Antwerpen NV, a wholly owned subsidiary of Degussa, will toll manufacture all vitamin B3 products currently made at its Antwerp, Belgium, site exclusively for Reilly in exchange for a fee. Upon closing of the second part of the deal, which could take up to six months, Reilly will own the assets outright, although Degussa will continue ...
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