Lonza Concludes Divestment of Peptides Business to PolyPeptide Lab Holding

# Lonza # peptides business # Lab Holding

Share to

Lonza Concludes Divestment of Peptides Business to PolyPeptide Lab Holding

Source：Food Ingredients First

Publish time：2017-01-05

Lonza has concluded the divestment of its Peptides Business located in Braine-l’Alleud, (BE) to PolyPeptide Laboratories Holding (PPL).

Lonza has concluded the divestment of its Peptides Business located in Braine-l’Alleud, (BE) to PolyPeptide Laboratories Holding (PPL). The facility, with approximately 280 employees, was the center for peptide chemical development and manufacturing within Lonza. The intention to divest was announced at the beginning of December 2016.

PolyPeptide Group announced that the harmonization of procedures at the Belgian facility to ensure consistency, continuity and quality within its expanded Group will be implemented in the coming months. The integration process is expected to be seamless to customers.

The financial terms of the transaction are not disclosed. As announced early December, Lonza has booked a non-cash related write-off of CHF 44 million ($42.8 million). Furthermore, Lonza will also book a CHF 29 million ($28.2 million) non-cash currency translation impact in the first half of 2017.

- END -

Favorites

Share to

Food Drying Equipment Industry Analysis: Characteristics, Uses and Market Trends

It's about "supermarket fresh"! The new national standard has been implemented →

Content Disclaimer:

All original articles and edited content published on this platform are copyrighted by the platform. Any reproduction or citation must clearly indicate the source: www.sjgle.com. Content marked with “Source: XXX (non-platform)” is reproduced from other media or public sources for the purpose of sharing industry information only. Such content does not represent the views of the platform, and the platform does not guarantee its authenticity or accuracy.