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People & Business :: Companies
Evonik Industries Buys Tessenderlo's Glycine Business
2:47 AM MDT | July 14, 2010 | Natasha Alperowicz
Evonik Industries says it has acquired the customer list for the pharmaceutical amino acid glycine from Tessenderlo Group (Brussels). Tessenderlo, which is currently undergoing a major portflio shuffle, announced last year that it would exit the glycine market by end of 2010 and will close the Tessenderlo based plant, because of "structural problems in the European market and competition from China." Evonik also has the option to acquire Tessenderlo's specialized glycine production equipment. Evonik makes the amino acid under strict cGMP specifications...
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