HEXAL acquires Degussa Radebeul site
Specialty chemicals company Degussa, of Duesseldorf, has agreed to sell its Radebeul/Dresden site to the pharmaceuticals manufacturer HEXAL, based in Holzkirchen near Munich, for an undisclosed sum.
Specialty chemicals company Degussa, of Duesseldorf, has agreed to sell its Radebeul/Dresden site to the pharmaceuticals manufacturer HEXAL, based in Holzkirchen near Munich, for an undisclosed sum.
The plant will begin production for HEXAL on 1 July, subject to the approval of the German Federal Cartel Office, and will operate as an independent subsidiary under the company name HEXAL Synthese GmbH.
The acquisition gives HEXAL in Germany its own chemicals synthesis facility, thereby creating the platform for developing both its own active substances and new technologies. HEXAL is providing a guarantee of employment for 177 jobs for a period of five years, and will retain the 31 existing apprenticeships. It will also maintain the apprenticeship intake unchanged at nine per year for at least three years.
The chairman of the Degussa management board, Prof. Utz-Hellmuth Felcht, said: 'I am pleased that in HEXAL we have found an owner who will continue to run the site. The future of the training establishment has also been secured. We have produced a socially responsible solution, and made an important contribution to securing the future of the site and the region.'
HEXAL, which specialises in the production and marketing of generic medicines and innovative pharmaceutical preparations, currently employs a staff of 2,530 in Germany. 'We are continuing to focus on Germany as a location for production,' added Dr Thomas Struengmann, founder and director of HEXAL. 'The site in Radebeul fulfils all the requirements we have of a modern chemicals synthesis facility. We are certain that with the know-how of the employees at the site we will be able to establish an efficient and profitable production unit within a very short period of time.'