Japanese chemical company Kaneka has agreed to acquire biochemical producer Eurogentec.

Japanese chemical company Kaneka has agreed to acquire biochemical producer Eurogentec.

Belgium-based Eurogentec was founded in 1985 and produces proteins and biochemical products for the pharmaceutical sector. It has around 400 employees and in the 2009 financial year declared sales of €41.4 million (£34.5 million). The purchase of a majority stake in Eurogentec was for an undisclosed amount.

Osaka-based Kaneka employs 7,700 people across its global subsidiaries, and declared net sales in the last financial year of ¥ 412 billion (£3 billion).

Jean-Pierre Delwart, CEO of Eurogentec, says that ‘joining forces with Kaneka will enable us to accelerate our research and developments in the life science sector’.