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09/27/2007
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| Lonza continues its strategic shift towards a life science driven company by selling its Singapore Purified Isophthalic Acid plant (Lonza Singapore Pte Ltd.) to Perstorp Group. The transaction is expected to close before the end of the year. |
Lonza Group (SWX:LONN) announces the signing of an agreement to sell 100% of the shares of Lonza Singapore Pte Ltd. to Perstorp Group for USD 138 million. This transaction represents another milestone in Lonza’s strategy to focus on its life science operations, following the transformational changes to its portfolio implemented over the last year. Over 90% of Lonza’s sales now relate directly to the life sciences.
Stefan Borgas, CEO of Lonza, comments: “The deal is benefiting all partners. With the divestiture of the Purified Isophtalic Acid plant in Singapore, Lonza continues to execute its strategic shift towards the life sciences; and with Perstorp we have found the right strategic partner for the continued development of the Singapore isophthalic acid operations. We believe that as part of a global leader in performance intermediates, the business and its employees will be able to unlock their full potential and go on to achieve continued success. We thank the employees of Lonza Singapore Pte Ltd. for their valuable contribution to Lonza and for their efforts to build and improve the business.”
At closing, Perstorp will assume full ownership of the business and all related assets through a wholly owned subsidiary. The transaction is contingent upon certain customary regulatory approvals and closing is expected before the end of the year.
JPMorgan acted as Lonza's financial advisor in this transaction.
Based on Jurong Island, Singapore, Lonza Singapore Pte Ltd. is a leading manufacturer and marketer of Purified Isophthalic Acid (PIA), used as a key ingredient in the manufacturing of PET bottle-grade resins, unsaturated polyester resins and performance coatings.
About Lonza
Lonza is one of the world's leading suppliers to the pharmaceutical, healthcare and life science industries. Its products and services span its customers’ needs from research to final product manufacture. Lonza is the global leader in the production and support of active pharmaceutical ingredients both chemically as well as biotechnologically. Biopharmaceuticals are one of the key growth drivers of the pharmaceutical and biotechnology industries. Lonza has strong capabilities in large and small molecules, peptides, amino acids and niche bioproducts which play an important role in the development of novel medicines and healthcare products. Lonza is a leader in cell-based research, endotoxin detection and cell therapy manufacturing. Lonza is also a leading provider of value chemical and biotech ingredients to the nutrition, hygiene, preservation, agro and personal care markets.
Lonza is headquartered in Basel, Switzerland and is listed on the SWX Swiss Exchange. In 2006, Lonza had sales of CHF 2.91 billion. Further information can be found at www.lonza.com.
For further information:
Investor / Media Relations Lonza
Janet White
Tel +41 61 316 8566
Fax +41 61 316 9566
janet.white@lonza.com
Media Relations Lonza
Dominik Werner
Tel +41 61 316 8798
Fax +41 61 316 9798
dominik.werner@lonza.com
Investor Relations Lonza
Alexandre Pasini
Tel +41 61 316 8835
Fax +41 61 316 9835
alexandre.pasini@lonza.com
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