Evonik Completes Acquisition of Tippecanoe Laboratories

January 7, 2010

1 Min Read
Evonik Completes Acquisition of Tippecanoe Laboratories

Evonik Industries AG has completed the purchase of the Tippecanoe Laboratories manufacturing facility in Lafayette, IN from Eli Lilly and Co., Indianapolis. The deal was closed on January 1, 2010. It was agreed not to disclose details of the purchase price.

The site has a workforce of some 650 and produces active ingredients and intermediates for the pharmaceuticals industry. The deal includes a long-term partnership with Lilly for the production of active ingredients and a multi-year supply agreement for active ingredients and intermediates for pharmaceuticals. The site will be fully integrated into Evonik’s global production and marketing network. 
The purchase of the site strengthens Evonik’s exclusive synthesis business in the USA and offers scope for further long-term growth.
Evonik Industries is the creative industrial group from Germany which operates in three business areas: chemicals, energy and real estate. Evonik is a global leader in specialty chemicals, an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Evonik is active in over 100 countries around the world. In its fiscal year 2008, about 41,000 employees generated sales of about €15.9 billion and an operating profit (EBITDA) of about €2.2 billion.

For more information, visit www.evonik.com.

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