Rhodia to sell salicylic and acetaminophen activities to Novacap
Last remaining pharmaceutical chemistry business in the Group
Rhodia, a French chemicals company that Solvay of Belgium is planning to acquire, is to sell its salicylic and acetaminophen activities to European chemical group Novacap.
Financial terms were not revealed.
Salicylates, which are used as active ingredients in the pharmaceutical industry (aspirin, acetaminophen) or as synthesis intermediates (salicylic acid, methyl salicylate), represent the last pharmaceutical chemistry business remaining within the Group, Rhodia said.
The Group’s salicylic and acetaminophen activities are principally produced at plants in France, Thailand, China and Brazil and employ approximately 390 people, the company said.
The finalisation of this divestment project should take place over the next few months, once consultations with the employee’ representatives have been completed and the necessary authorisations required by law have been obtained.
Novacap, headquartered in Lyon, France, is organised into three business units, Novacarb, Novapex and Novacid.
Novacarb produces inorganic chemical products and sells mainly soda ash, sodium bicarbonate and sodium sulphate. Novapex produces organic chemical products and sells mainly phenol, oxygenated solvents (like isopropyl alcohol IPA) and derivatives. Novacid distributes hydrochloric acid and produces calcium chloride as well as ferric chloride through a joint venture with Feralco.