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SI Group has agreed to acquire Albemarle’s ibuprofen, antioxidants, and propofol businesses for an undisclosed sum. Albemarle, a leading supplier of ibuprofen, characterizes the deal as a step in its plan to focus on core businesses such as catalysts, bromine, custom fine chemicals, and performance chemicals. SI Group, a manufacturer of chemical intermediates, resins, and other nonpharmaceutical chemicals, says the acquisition will advance an effort to develop a pharmaceutical chemical business. Frank A. Bozich, CEO of the Schenectady, N.Y.-based company, says the deal is the largest in SI Group’s history.
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