Rhodia to sell custom synthesis business to Shasun Chemicals & Drugs

Published: 6-Jan-2006

Global speciality chemicals company Rhodia has signed a letter of intent with Indian company Shasun Chemicals & Drugs with a view to selling its pharmaceutical custom synthesis business.


Global speciality chemicals company Rhodia has signed a letter of intent with Indian company Shasun Chemicals & Drugs with a view to selling its pharmaceutical custom synthesis business.

Founded in 1976,Chennai-based Shasun offers an integrated industrial model ranging from r&d to the manufacture of active ingredients and intermediates for the pharmaceutical industry in facilities certified compliant with cGMP standards. The company generated sales of US$73m in 2004 and employs 1,300 people.

'This transaction is in line with our announced strategy to refocus the Group's business portfolio and to find a solution for Rhodia Pharma Solutions, said Jean-Pierre Clamadieu, ceo of Rhodia. 'The transfer to Shasun will allow these activities to be pursued under optimum conditions for our customers.'

The transaction is expected to be completed by the end of the first quarter of 2006, with the signature of the final contract, as well as the necessary official authorisations.

  

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