03 May 2022
ICE GROUP acquires Iwaki manufacturing site from Mitbubishi API corporation
We are pleased to announce that on May 2nd ICE Group completed the purchase of the Iwaki Ursodeoxycholic Acid (“UDCA”) manufacturing site from Mitsubishi API Corporation. This transaction represents the end of an acquisition process that started in October 2021.
Tokyo Tanabe was the originally developer of UDCA in Japan in the 1950’s and since that time the benefit of UDCA in treating a range of diseases has been recognised worldwide. The Iwaki manufacturing unit is a high-quality facility with a long heritage of stable supply focusing on Japan.
The integration of the Iwaki facility and its employees into the ICE manufacturing network strengthens the company’s position by providing it with a 4th UDCA API facility and a base in Asia. Kailash Sharma has been appointed as General Manager of operations.
Roger Viney, Chief Commercial Officer of ICE Group, said: “We are delighted to welcome this excellent manufacturing unit to our group. The Japanese and wider Asian demand for UDCA is large and increasing. We look forward to proving first class local service to customers and to suppling their growing needs from Iwaki”.
Under the new ownership, and by taking advantage of ICE’s expertise, the Japanese plant will benefit of highly efficient and effective operations that will facilitate continued and improved delivery of best-in-class UDCA API.
Agostino Barazza, Chief Executive Officer of ICE Group, said: “We place great value on the stringent product quality standards for UDCA API demanded by our customers. The acquisition of the Iwaki plant is a fantastic occasion to provide customers with further capacity and to strengthen ICE’s position as a global bile acids player”.