The following is from a subscription service and I didn't know how to link to it, but all of the appropriate citation information is there. I don't really know that it helps, but broadens the picture.
I have found mention in a syllabus of a documentary video on the el-Sayed/Fermenta scandal, but can't seem to find a copy of it anyplace, so may have been something that the professor put together.
Crain's Cleveland Business wrote:
April 9, 1990 v11 n15 p3(2)
SDS Biotech goes on sale for 3rd time since 1983. (SDS Biotech Corp.) David Prizinsky.
Full Text: COPYRIGHT Crain's Cleveland Business 1990
SDS Biotech goes on sale for 3rd time since 1983
SDS Biotech Corp., a company in Mentor that through its subsidiaries employs 330 workers in the Cleveland area, has been put on the auction block by its owner, Fermenta AB of Stockholm.
SDS Biotech owns Fermenta ASC Corp. in Mentor and Ricerca Inc., based in Concord Township. A third Fermenta AB company, Fermenta Animal Health of Kansas City, Mo., is also for sale. These companies together listed $258 million in sales in 1989 and reported record profits, according to the Swedish firm. Fermenta didn't specify the profit figure.
SDS Biotech president Franklin Barry said the ramifications of any sale are unclear at this point.
"We don't know what it means for area operations until the buyer is found, which should take roughly four to six months," Mr. Barry said.
A sale of SDS Biotech's operations would be the third ownership change for those businesses in less than a decade. The SDS Biotech companies were once part of the old Diamond Shamrock Corp., which sold a one-half interest in the operations in 1983 to Showa Denko K.K. of Japan. Fermenta AB bought SDS Biotech and its subsidiaries in 1985.
Mr. Barry said last week the Swedish firm decided to sell its U.S. subsidiaries in order to generate a one-time gain this year that will allow the company to use tax-loss carryforwards. He said changes in Swedish tax law have put such tax benefits in jeopardy in the future.
"We're talking about over $100 million in tax-loss carryforwards," Mr. Barry said. "They'll sell the stock, earn a large one-time gain and use the tax benefits."
Fermenta ASC Corp., which has manufacturing plants in Greens Bayou, Texas, makes crop protection chemicals, wood preservatives and specialty chemicals. Ricerca specializes in chemical research projects and employs a research staff of more than 250. Fermenta Animal Health produces a variety of products, including insecticides and antibiotics.
Dillon, Read & Co., a New York investment banking company, has been hired to handle the sale.
Bus.Coll.: 53N4774
Article A8583858
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