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Cambrex to Sell Two Plants

The facilities are in Cork, Ireland, and Landen, Belgium.

Drug development technology company

Cambrex

(CBM) - Get Cambrex Corporation Report

has agreed to sell two plants that are part of its human health division.

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The Cork, Ireland, and Landen, Belgium, facilities, which produce small-molecule, active pharmaceutical ingredients, will be sold to a subsidiary of Luxembourg's International Chemical Investors II.

"As part of our evaluation of strategic alternatives, we identified the divestiture of Cork and Landen as an initial step in our effort to streamline and strengthen the human health business," Cambrex said Friday.

The company said the sale will let it focus its human health investment on its three largest facilities.