Evonik Industries AG has completed the purchase of the Tippecanoe Laboratories manufacturing facility in Lafayette (Indiana, USA) from Eli Lilly and Company, Indianapolis (USA). The deal was closed on January 1, 2010. It was agreed not to disclose details of the purchase price.

The site has a workforce of some 650 and produces active ingredients and intermediates for the pharmaceuticals industry. The deal includes a long-term partnership with Lilly for the production of active ingredients and a multi-year supply agreement for active ingredients and intermediates for pharmaceuticals. The site will be fully integrated into Evonik’s global production and marketing network.

The purchase of the site strengthens Evonik’s exclusive synthesis business in the USA and offers scope for further long-term growth.

SOURCE: WEB OF EVONIC