W.R. Grace buys India-based Flexit Laboratories for discovery sciences business

By Caroline Salls

Pittsburgh, Nov. 14 - W.R. Grace & Co. has acquired Flexit Laboratories Pvt. Ltd., although terms of the deal were not disclosed, according to a company news release.

Flexit, a Pune, India-based manufacturer and supplier of chromatography products, will be integrated into the Discovery Sciences business of the Grace Davison Chemicals segment.

"This acquisition reflects our commitment to growing our Discovery Sciences business as well as our presence in India," Grace Davison president Greg Poling said in the release.

"We are constantly evaluating opportunities in the Asia Pacific region that fit our strategy to expand our infrastructure, enhance our material science competencies and allow us to better support our customers' needs.

"This acquisition is particularly suitable since India's support for research and manufacturing investment encourages pharmaceutical and life science firms to establish a presence in that country."

According to the release, Grace has been building its Discovery Sciences business through a strategy of both internal growth and acquisitions. This is the company's sixth acquisition for this product group since 2001.

W.R. Grace, a Columbia, Md.-based specialty chemicals company, filed for bankruptcy on April 2, 2001 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 01-01139.

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