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Songwon to acquire specialty chemicals business of Indian pharma firm SeQuent

8:36 AM MDT | April 16, 2014 | Deepti Ramesh

Pharmaceutical company SeQuent Scientific (Bangalore, India), on 15 April, informed the Bombay Stock Exchange (Mumbai) that it has signed an agreement with Songwon Industrial (Ulsan, South Korea), under which Songwon will acquire the former company's specialty chemicals business. The acquisition includes SeQuent's polymer stabilizer business and production site at Panoli, Gujarat State, India, together with the local R&D team. Financial details of the agreement have not been disclosed. The transaction is expected to close in the third quarter. “This...

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