American Pacific buys ingredient manufacturer

American Pacific is buying the assets of Aerojet Fine Chemicals for $119 million and the assumption of some liabilities. AFC makes active pharmaceutical ingredients and registered intermediates for commercial customers in the pharmaceutical industry. It had $66 million in sales last year. "AFC is a perfect fit for our company," said John R. Gibson, CEO of American Pacific. "It is an attractive, profitable business that complements our existing specialty chemical and energetic product portfolio. This acquisition provides us with a strong presence in fast growing pharmaceutical markets where we can provide customers with value added products and services."

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