LAFAYETTE, Ind. Evonik Industries AG, has completed the acquisition of Tippecanoe Laboratories and commenced its first official day of production in Indiana.
In October, Eli Lilly and Company announced that it would sell the Tippecanoe Laboratories manufacturing facility to Evonik as part of its reorganization strategy. The sale includes the transfer of the 2,400-acre property and the preservation of more than 650 jobs that might have otherwise been eliminated.
Evonik's Indiana facility adds to its North American Exclusive Synthesis business which is focused on the customized production of pharmaceutical intermediates, active pharmaceutical ingredients, amino acids and high-quality derivatives. The company will produce pharmaceutical ingredients for Lilly and ultimately other pharmaceutical companies.
Evonik of Essen, Germany, recorded nearly $16 billion in sales in 2008 and employs more than 41,000 associates across the globe.
"Our customers benefit from the technology portfolio as well as from our expertise in the production of intermediates and active pharmaceutical ingredients," said Dr. Hans-Josef Ritzert, Evonik senior vice president, business line exclusive synthesis and amino acids. "The global production and research network of the business line offers a seamless service portfolio, ranging from the co-development of synthesis together with customers on the laboratory scale to commercial production in U.S. Food and Drug Administration-certified facilities."
The Indiana Economic Development Corporation offered Evonik up to $10 million in performance-based tax credits and up to $200,000 in training grants.
In October, Eli Lilly and Company announced that it would sell the Tippecanoe Laboratories manufacturing facility to Evonik as part of its reorganization strategy. The sale includes the transfer of the 2,400-acre property and the preservation of more than 650 jobs that might have otherwise been eliminated.
Evonik's Indiana facility adds to its North American Exclusive Synthesis business which is focused on the customized production of pharmaceutical intermediates, active pharmaceutical ingredients, amino acids and high-quality derivatives. The company will produce pharmaceutical ingredients for Lilly and ultimately other pharmaceutical companies.
Evonik of Essen, Germany, recorded nearly $16 billion in sales in 2008 and employs more than 41,000 associates across the globe.
"Our customers benefit from the technology portfolio as well as from our expertise in the production of intermediates and active pharmaceutical ingredients," said Dr. Hans-Josef Ritzert, Evonik senior vice president, business line exclusive synthesis and amino acids. "The global production and research network of the business line offers a seamless service portfolio, ranging from the co-development of synthesis together with customers on the laboratory scale to commercial production in U.S. Food and Drug Administration-certified facilities."
The Indiana Economic Development Corporation offered Evonik up to $10 million in performance-based tax credits and up to $200,000 in training grants.
