Columbia, MD-based W.R. Grace & Co said today it has entered into an acquisition agreement with Albany, OR-based Synthetech, to purchase the chemical manufacturer for approximately $19.2 million. Synthetech manufactures fine chemicals, specializing in organic synthesis, biocatalysis, and chiral technologies, for use in the pharmaceutical and biotechnology industries. Its products are used in drugs to treat cancer, cardiovascular issues, AIDS, and other diseases. W.R. Grace says the company will be integrated into its specialty technology business, providing it with manufacturing capacity for specialty single-site and polypropylene catalysts used to make plastics, and expanding its discovery science offerings to include the pharmaceutical sector. Synthetech currently has 63 employees divided between the Oregon facility and an R&D location in San Diego.
Author: Thea Chard
Before joining Xconomy, Thea spent a year working as the editor of another startup, the hyperlocal Seattle neighborhood news site QueenAnneView.com. She holds a bachelor's degree from the University of Southern California, where she double-majored in print journalism and creative writing. While in college, Thea spent a semester studying in London and writing for the London bureau of the Los Angeles Times. Indulging in her passion for feature writing, she has covered a variety of topics ranging from the arts, to media, clean technology and breaking news. Before moving back to Seattle, Thea worked in new media development on two business radio shows, "Marketplace" and "Marketplace Money" by American Public Media. Her clips have appeared in the Los Angeles Times, the Santa Monica Daily Press, Seattle magazine and her college paper, the Daily Trojan. Thea is a native Seattleite who grew up in Magnolia, and now lives in Queen Anne.
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