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Synthetech Announces Bankruptcy Court Approval of Merger With W. R. Grace Subsidiary
Date:10/18/2010

ALBANY, Ore., Oct. 18 /PRNewswire-FirstCall/ -- W. R. Grace & Co. (NYSE: GRA) has received approval from the United States Bankruptcy Court for the District of Delaware of the previously announced transactions contemplated by the Agreement and Plan of Merger dated as of September 13, 2010 pursuant to which W. R. Grace & Co.-Conn, a wholly-owned subsidiary of W. R. Grace & Co., will purchase Synthetech, Inc. (OTC Bulletin Board: NZYM), a manufacturer of fine chemicals specializing in organic synthesis, biocatalysis and chiral technologies.

In addition to obtaining Bankruptcy Court approval, the boards of directors of both companies have approved the transaction.  However, the merger remains subject to approval by Synthetech's shareholders and the satisfaction of other closing conditions.

About SynthetechSynthetech, Inc., based in Albany, Oregon, is a fine chemicals company specializing in organic synthesis, biocatalysis and chiral technologies. Synthetech develops and manufactures amino acid derivatives, specialty amino acids, peptide fragments and proprietary custom chiral intermediates primarily for the pharmaceutical industry.  Synthetech produces advanced pharmaceutical intermediates in accordance with current Good Manufacturing Practices (cGMP) and in compliance with U.S. Food and Drug Administration (FDA) regulations.  Synthetech's products support the development and manufacture of therapeutic peptides and peptidomimetic (peptide-like) small molecule drugs from early stages of a customer's clinical development through market launch and into commercial production.  Synthetech's products also support the production of chemically-based medical devices.  Synthetech's domestic and international customer base includes major and m
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SOURCE Synthetech, Inc.
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