Whittaker Corp., which is spinning off its biotech business,BioWhittaker Inc., said Wednesday it will sell 19.9 percent ofBioWhittaker to Boehringer Ingelheim of Germany for $23million.
BioWhittaker of Walkersville, Md., and Boehringer have agreed,subject to certain conditions, to form an equally owned jointventure to produce cell cultures, cell culture media and serausing BioWhittaker's technology.
The venture will build and operate a plant in Belgium. The plantis expected to be operational by early 1993. Boehringer isalready acting as a European distributor for BioWhittaker.
BioWhittaker shares will be traded on the New York StockExchange after the spinoff, which Whittaker (NYSE:WKR) hopesto accomplish in November.
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