Lonza sells US operation
operation in Painesville, Ohio, to US firm Twin Rivers Technologies
for undisclosed terms, according to the Swiss-based chemicals and
components company.
Lonza has said that it is selling its fatty acid and glycerine operation in Painesville, Ohio, to US firm Twin Rivers Technologies for undisclosed terms, according to the Swiss-based chemicals and components company.
The deal is part of Lonza's efforts to streamline the business and become a pre-eminent supplier to the life sciences industry. For Twin Rivers Technologies, the addition strengthens its supply network for fatty acids and glycerine customers.
Lonza gave no details on the transaction, which is still subject to due diligence.
"This transaction is a part of the oleochemicals business and is consistent with Lonza's vision to be the pre-eminent supplier to the life sciences industry," said Gary Williams, head of Lonza Performance Chemicals.
Paul Angelico, Twin Rivers Technologies' president, also added: "The addition of a Midwest operation will strengthen Twin Rivers' supply network for our fatty acids and glycerine customers."
Last year Lonza had sales of SF 2.5 billion (€1.7bn) and currently operates 21 production and R&D facilities in nine countries. It employs 6,400 people worldwide.
Twin Rivers Technologies is one of the largest oleochemical producers in North America, supplying the snack foods industry.
