W.R. Grace & Co. to buy chemical manufacturer Synthetech for $19.2M

Manufacturer specializes in chemicals for pharmaceutical industry

September 14, 2010|By Hanah Cho, The Baltimore Sun

Columbia's W.R. Grace & Co. has agree to buy an Oregon-based chemical manufacturer for $19.2 million.

The deal with Synthetech, announced late Monday, will allow Grace to expand its offerings to the pharmaceutical sector.

Synthetech specializes in organic synthesis, biocatalysis and chiral technologies. The company, based in Albany, Ore., has 63 employees.

The transaction has been approved by both companies' board of directors but is subject to approval by Synthetech shareholders and the U.S. Bankruptcy Court.

Grace expects to close the deal in the fourth quarter.

hanah.cho@baltsun.com

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