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Cambrex Sells Two Human Health Facilities

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Cambrex Corp. has signed an agreement to sell two non-strategic facilities within its Human Health segment to a holding company controlled by International Chemical Investors II S.A. (ICIG) of Luxembourg.

The facilities, which are located in Cork, Ireland and Landen, Belgium, manufacture small molecule APIs and advanced intermediates. The transaction is expected to close within 30 days.

“As part of our evaluation of strategic alternatives, we identified the divestiture of Cork and Landen as an initial step in our effort to streamline and strengthen the Human Health business,” said James Mack, chairman, president and chief executive officer of Cambrex. “This transaction will allow us to focus our Human Health investment in our three largest facilities where we have strong market positions, differentiating technologies, and proprietary products. We believe that under ICIG’s leadership and experience in this industry bringing to bear synergies with their other activities, combined with the dedicated workforce at the sites, the new owners will achieve the full turnaround in the foreseeable future.”

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