AMRI acquires U.K. manufacturer for $19 million
Posted on February 18th, 2010
Albany Molecular Research Inc. said this morning it acquired Excelsyn Ltd., a chemical development and large scale manufacturing business based in Holywell, North Wales, the United Kingdom, for $19 million.
“The acquisition of Excelsyn further builds out AMRI’s global continuum spanning the U.S., Asia and Europe, and is a significant milestone in its strategy to continue to expand our services platform and global footprint,” said Thomas E. D’Ambra, the chairman, president and CEO of AMRI.
Excelsyn provides development and large-scale manufacturing services to large pharmaceutical, spcialty pharmaceutical and biotechnology customers in Europe, Asia and North America, AMRI said. The acquisition expands AMRI’s customer portfolio. AMRI already has overseas operations in Hungary, as well as in India and Singapore.
Excelsyn had $15 million in revenues in 2009 and 60 employees.
Shares (Nasdaq: AMRI) were up 9 cents to $8.83 in early-afternoon trading.
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