Tom Malecha, vice president of CHS Inc. (Minnesota-St Paul, United States) in the area of food processing and ingredients, has announced that the firm has decided to cease the manufacturing of pharmaceutical-grade soy isoflavones at its Ashdod (ISRAEL) factory and sell the business area to the Spanish company Tradichem S.L. The transaction includes the entire Solgen business line, from technology to distribution, including product stock, trademark, customer portfolio, and, of course, its European Drug Master File (eDMF).
For his part, José Ángel Marañón, Executive Director of Tradichem S.L., has indicated that “the agreement on soy isoflavones represents the strengthening of the company’s internationalization strategy, which in 2015 will account for nearly 50% of turnover and by 2020 should represent more than 80%”. The company’s goal is to develop the technology and reach a turnover of 40 million euros in a period not exceeding 7 years, which will represent a significant investment in human capital and the company’s own resources “. The agreement will provide TRADICHEM S.L. access to highly regulated markets in Latin America and will offer the possibility of incorporating part of this technology into pharmaceutical plants in Spain, which would mean converting the technological and business agreement into an agreement with a strong industrial component.
Furthermore, he pointed out that “although it is not common for a Spanish firm to acquire technology from a company of the size of CHS Inc, from the Fortune 100 ranking, when an offer like ours is presented, developed by an extraordinary team, and based on knowledge, technological development and global market vision, it is quite simple to negotiate with this type of companies“. Similarly, Marañón, who holds a PhD in Chemical Sciences and lives between Spain and the United States, considers that “the products and processes developed by Spanish biotechnology companies are very well received in dynamic markets such as the United States, and that now is a great time to go beyond our borders and reach global agreements that reinforce the commitment to R&D&I”.
About Tradichem S.L.
Tradichem S.L. (www.tradichem.es) focuses its activity on the commercialization and development of nutraceutical assets for the pharmaceutical and food markets. With more than 20 years of experience and a business model based on innovation, strong alliances and internationalization, it has an Innovation Center (Tradichem Innovation Center) in the Madrid Science Park (PCM) and strategic alliances with the main nutraceutical and pharmaceutical companies in Israel, Germany, Switzerland, and the USA.
About CHS
CHS Inc. (www.chsinc.com) is a leading company in the agribusiness sector, owned by ranchers, farmers, and cooperatives in the United States. CHS Inc ranks 62nd in the Fortune ranking, behind Disney (61), and has various activities ranging from energy supply, crop nutrients, grain marketing services, livestock feed, food and food ingredients, to the creation of business solutions such as insurance or financial and risk management services. The company controls oil refineries and pipelines, and manufactures, markets, and distributes fuels, lubricants, propane, and refined renewable energy products under the Cenex® brand.
