MEDIA RELEASE PR39385
Vertellus Specialties Announces Acquisition of MGK(R) Insect Repellent Business
INDIANAPOLIS, May 4 /PRNewswire-AsiaNet/ --
Vertellus Specialties Inc., a leading specialty chemicals company, today
announced the acquisition of certain assets of the McLaughlin Gormley King Company's
(MGK(R)) insect repellent business. Included in the acquisition are several MGK(R)
insect repellent products including DEET, plus associated end-use formulations,
product registrations, and customer lists. The acquisition does not include any
physical facility assets or personnel.
"The strategic rationale driving this transaction is two-fold," said Rich
Preziotti, President and CEO of Vertellus Specialties. "To begin with, the MGK(R)
insect repellent line enhances Vertellus long-standing leadership position in DEET
manufacture by adding new components like MGK(R) 326 and MGK(R) 2007 repellent
concentrate to our list of active ingredients."
"In addition, MGK's core strength in end-use formulations enhances our overall
capabilities set," continued Preziotti. "This newly combined insect repellent
business delivers more value and more choices to customers than ever before."
"Divesting our insect repellent business allows MGK to focus its efforts on
developing insect control solutions in support of its core products business," said
MGK's President Steve Gullickson. "We will continue to bring value and support to our
customers, but with a more unified approach."
Vertellus manufactures DEET at their facility in Greensboro, North Carolina and
will continue to do so after the transaction. Vertellus is working closely with
MGK(R) to manage the transition and integration of all acquired assets into the
Vertellus platform. In anticipation of the Northern Hemisphere's summer season,
Vertellus and MGK(R) have pre-built a product inventory to complement Vertellus
sizeable capacity for DEET production, ensuring a smooth transition and continuity of
supply for customers around the world.
DEET is the widely preferred active ingredient in insect repellent products due
to its superior effectiveness and attractive cost.
Both Vertellus and MGK(R) have been leaders in navigating the DEET regulatory
landscape for many years. By merging MGK(R) and Vertellus repellent assets, Vertellus
is well positioned to assist customers, particularly in the European Union, facing
DEET-related regulatory challenges now and in the future.
About Vertellus Specialties Inc.
Vertellus is a specialty chemicals company focused on the manufacture of
ingredients used in pharmaceuticals, personal care, nutrition, agriculture, and a
host of other market areas affected by trends favoring "green" technologies and
chemistries. Vertellus is the #1 global producer of pyridine and picolines, specialty
pyridine derivatives, DEET, castor oil derivatives and systems, and citrate polymer
additives and systems, and the world's #2 producer of Vitamin B-3. Vertellus benefits
from a technically advanced global manufacturing base and has approximately 700
employees. Vertellus is headquartered in Indianapolis, Indiana. For more information,
Contact: Scott Smith
Tel: 317-248-6517
SOURCE: Vertellus Specialties Inc.
CONTACT: Scott Smith,
+1-317-248-6517
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