Cambrex Focuses on Life Sciences with Pending $64 Million Sale of Rutherford Chemicals

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Cambrex Corporation (NYSE: CBM) (East Rutherford, New Jersey) is surging ahead in its efforts to define itself as a true life sciences company. Part of their strategy is to remove themselves from the broader specialty chemical business. As a result, Cambrex recently announced that they have entered into an agreement to sell its Rutherford Chemicals business for approximately $64 million in cash.

The pending agreement has Arsenal Capital Partners LP (New York, New York) purchasing the entire U.S. Rutherford Chemicals business from Cambrex, including assets and some liabilities. The transaction will include the following companies and their respective manufacturing sites:

- CasChem Incorporated, Bayonne, New Jersey (Plant 1516487)
- Heico Chemicals Incorporated, Delaware Water Gap, Pennsylvania (Plant 1010959)
- Nepera Incorporated, Harriman, New York (Plant 1510999)
- Zeeland Chemicals Incorporated, Zeeland, Michigan (Plant 1018263)

Cambrex will continue to sharpen their Human Health and Biosciences business segments, which includes the Bioproducts (Cell Therapy), Pharmaceutical, Generic Pharmaceutical and Biopharmaceutical Contract Manufacturing Divisions. Industrialinfo.com's in-house research has identified recent capital projects approaching $40 million by Cambrex in their life science facilities. (PEC 26000732, 35000626, 3500658, 07001509, 07001515)

Click the following link to view Industrialinfo.com's 2003 North American Pharmaceutical-Biotech Forecast.