ARLINGTON HEIGHTS, Ill., March 14 /PRNewswire-FirstCall/ -- AMCOL International Corporation announced that its Health & Beauty Solutions, Inc. subsidiary (HBS), has acquired Microsponge(R) technology from Cardinal Health's Pharmaceutical Technology and Services (PTS) segment.
Under the terms of the agreement, HBS will assume control of the technology and all related assets, including an existing customer base and a substantial patent portfolio. Financial terms of the transaction were not disclosed.
Microsponge is a system of biologically inert particles that is used to deliver active ingredients in dermatological products such as lotions and ointments. HBS develops and markets technologies that improve performance and enhance esthetics in all forms of skin-care and sun protection products.
"Microsponge is seen as the leading technology for addressing skin conditions such as acne, actinic keratosis (precancerous skin lesions) and photo (sun) damage," says Kevin Cureton, HBS managing director. "Through this acquisition, our company will be able to realize the full potential of the work that we already do in support of the Microsponge products. We also expect to build upon this venerable franchise with our talented research and development organization to accelerate the growth of both our business and our customers' businesses."
HBS has been supplying the product line to Cardinal under an exclusive supply agreement since 2003, and will continue to supply it for limited purposes.
The acquisition is another indication of AMCOL's commitment to its customers, says Larry Washow, president and chief executive officer.
"We are dedicated to delivering proprietary products and the highest value to our customers," Washow says. "With this addition to its product portfolio, Health and Beauty Solutions will further enhance our Specialty Minerals product lines. This is a continuation of the investment we have made in our Specialty Minerals group."
AMCOL International produces and markets specialty mineral products for industrial, environmental and consumer-related applications. The company operates in three industry segments: minerals, environmental and transportation. AMCOL common stock trades on the NEW York Stock Exchange under the symbol ACO; the company's Web site is http://www.amcol.com/ .
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