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Business

Novasep Snaps Up Fine Chemicals Firm

September 24, 2007 | APPEARED IN VOLUME 85, ISSUE 39

The French fine chemicals and separations equipment firm Novasep has agreed to acquire Bahamas-based PharmaChem Technologies for an undisclosed sum. PharmaChem produces active pharmaceutical ingredients at a facility in Freeport that was built in 1967 by Syntex Pharmaceuticals. Honeywell purchased the facility in 1998 and idled it in 2001. It was acquired in 2003 by its current owners, including president Pietro Stefanutti, who will become chairman of the Novasep board.

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