Chemical Giant Evonik Industries AG Starts Operations in Lafayette, Indiana
1/6/2010 9:37:00 AM
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 ExclusiveSynthesis business which is focused on the customized production of pharmaceutical intermediates, active pharmaceutical ingredients, amino acids andhigh-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.
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 Euro 15.9 billion and an operating profit (EBITDA) of more than Euro 2.2 billion.
In Indiana, Thomas Bates is Evonik Regional President of Evonik Industries and the company's Plant Manager is Larry McShane