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news.AEterna Zentaris' majority-owned subsidiary Atrium Biotechnologies has closed its C$23.8 million acquisition of Multichem, a privately held Canadian company that specializes in marketing active ingredients and specialty chemicals.
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This acquisition was financed through Atrium’s working capital, as well as from a new banking credit facility.
“The Multichem acquisition allows us to significantly increase our presence on the North American market in the active ingredients and specialty chemicals sector”, said Luc Dupont, president and CEO of Atrium. The move also ties in with Multichem’s growth strategy aimed at strengthening the company’s position in its active ingredients & specialty chemicals and health & nutrition operations.
Founded in 1985, Multichem now has a portfolio of over 400 products sold to more than 500 customers in Canada and the north eastern US through its offices in the Montreal and Toronto regions. For the fiscal year ended August 31, 2004, the company’s sales exceeded C$60 million.