Swiss sale

Aktiengesellschaft plans to expand its Pharma Solutions business by acquiring the Swiss fine chemicals company

.

An agreement has already been reached with the private owners, who hold about 75 percent of Orgamol’s shares. Approval for the transaction is still required from Orgamol’s Swiss employees, who have a combined shareholding of 25 percent in the company via an employee foundation. In addition, the transaction is subject to approval by regulatory authorities.

All Swiss employees at Orgamol have been invited by the foundation to vote on the sale of the remaining shares to BASF. The sale must be ratified by two-thirds of the employees present at the meeting.

The acquisition of Orgamol would place BASF among the top 10 providers of pharma contract manufacturing solutions in the world.

“This is a strategic step on the way to expanding our fine chemicals business further and achieving sales of €3 billion and an EBITDA margin before special items of 20 percent,” said Martin Laudenbach, head of BASF’s Fine Chemicals division.

According to BASF, Orgamol is an important player in the contract manufacturing market and supplies exclusive ingredients to customers in the pharmaceutical industry. In 2004, the company posted sales of approximately €100 million.

The planned acquisition includes the headquarters of Orgamol in Evionnaz close to Lake Geneva as well as the company’s second production site in Saint-Vulbas near

. Orgamol has about 450 employees at its two sites.