Incorporated: 1975
NAIC: 325188 All Other Inorganic Chemical Manufacturing; 325199 All Other Basic Organic Chemical Manufacturing; 325413 In-Vitro Diagnostic Substance Manufacturing; 325414 Biological Product (Except Diagnostic) Manufacturing; 325998 All Other Miscellaneous Chemical Product and Preparation Manufacturing; 422210 Drugs and Druggist Sundries Wholesalers; 422690 Other Chemical and Allied Products Wholesalers; 454111 Electronic Shopping; 454113 Mail-Order Houses; 541710 Research and Development in the Physical, Engineering, and Life Sciences
SIC: 2869 Industrial Organic Chemicals Nec; 2835 Diagnostic Substances; 2836 Biological Products Except Diagnostic; 2899 Chemical Preparations Nec; 5961 Catalog & Mail-Order Houses; 8731 Commercial Physical Research; 8733 Noncommercial Research Organizations
Sigma-Aldrich Corporation is a developer, manufacturer, and distributor of a wide range of biochemicals, organic chemicals, chromatography products, diagnostic reagents, and laboratory equipment and kits. The company is the world's leading seller of chemicals to research laboratories, pharmaceutical companies, and hospitals, with a product line that includes approximately 100,000 substances and 30,000 equipment products sold principally under five well-known chemical brands: Sigma, Aldrich, Fluka, Riedel-de Haën, and Supelco. Of these 100,000 substances, roughly 46,000 of them are manufactured by the company, and the company-manufactured products account for around 60 percent of overall sales. Sigma-Aldrich has more than 70,000 customers in more than 165 countries; more than 70 percent of its sales to these customers are on the small side, averaging about $400. About 60 percent of sales are generated outside the United States. The company maintains manufacturing facilities in Missouri, California, Connecticut, Florida, Illinois, Kansas, Massachusetts, New Jersey, Ohio, Pennsylvania, Texas, Wisconsin, Australia, Canada, France, Germany, India, Ireland, Israel, Japan, Singapore, Switzerland, and the United Kingdom.
Born Through a 1975 Merger
Sigma-Aldrich Corporation is the result of a 1975 merger between two specialty chemical companies, one that manufactured biochemicals (Sigma Chemical Company) and another that manufactured organic chemicals (Aldrich Chemical Company, Inc.). While offering divergent products, both companies regarded high-quality products and customer service a priority. The merger, therefore, represented a convergence of business strategy as well as the creation of a diversified product line that ranked Sigma-Aldrich at the top of the specialty chemical industry. In particular, because of the scientific community's involvement in the growing field of biomedical research, Sigma-Aldrich's product catalog became standard issue in pharmaceutical laboratories around the world.
Sigma Chemical Company was started in 1945 in St. Louis. At a time when sugar was scarce, Dan Broida, a biochemist, began a storefront business to manufacture saccharin. The company later went on to produce biochemicals and diagnostic products. Sigma's customers ranged from hospitals to university laboratories. Scientific fields concerned with the study of life sciences, as well as disease diagnostics, use biochemicals as the basic substances to develop pharmaceuticals and diagnostic tests.
Aldrich Chemical Company, founded by the Harvard-educated chemist Dr. Alfred R. Bader, began manufacturing organic chemicals in a Milwaukee garage six years after Broida established Sigma. Aldrich's first products were those chemicals not offered by Eastman Kodak Company, a leader in the chemical industry. Bader soon decided that his company could engage in direct competition with larger companies, and he began offering a broad line of organics sold to research laboratories of pharmaceutical companies. The company did exceedingly well and its customer list soon included Abbott Laboratories and Ciba-Geigy Ltd., among others.
The 1975 merger between the two companies matched skill for skill and talent for talent. Broida assumed the role of chairman and Bader took the position of company president. While the combined company interests still remained small compared to those of the larger industry firms, the business acumen of Sigma-Aldrich's management went a long way in securing an impressive percentage of the specialty chemical research market. By 1979 the company laid claim to between 30 and 40 percent of the $100 million research market. Sales climbed to $68 million, representing an annual increase of 15 percent. Earnings jumped 24 percent to $9.2 million, causing Wall Street analysts to predict continued growth of 20 percent a year.
Sigma-Aldrich's marketing success, achieved by neither a large sales force nor expensive advertising outlays, relied on the distribution of catalogs. In addition to advertising products available on a phone-order basis, the catalog offered detailed information about the physical properties of the marketed chemicals. The value of the catalog as a reference source as well as an advertising tool was evident, and it soon became a company trademark. Initially compiled by Bader in the early 1950s as a one-page, one-chemical listing, the catalog grew to include 40,000 chemicals by the late 1970s. Sigma-Aldrich's small sales force distributed 300,000 free copies of the catalog in 1979.
The company's reputation among chemists as a manufacturer of quality products matched a distribution network that ensured most orders would be filled in 24 hours. Interestingly enough, in the early years of Sigma-Aldrich's business an average order amounted to less than $100. This indicated a customer profile of academicians or laboratory researchers experimenting with relatively small quantities of chemicals. Although this profile was altered somewhat in the ensuing years because of the increasing pressure to supply bulk commercial chemicals, Sigma-Aldrich fiercely defended its business as first and foremost a service to the research community.
Overseas expansion in the late 1970s found 125 countries purchasing Sigma-Aldrich's products with company subsidiaries operating in Canada, the United Kingdom, Japan, Germany, and Israel. Nearly 40 percent of sales in 1979 resulted from overseas business.
Explosive Growth
In the 1980s the company's growth matched the explosion in the U.S. biomedical research market. Despite such gains Sigma-Aldrich's management, much to the chagrin of some industry analysts, refused to alter the strategy that laid the framework for previous company growth. Rather than set long-term goals or exploit the bulk chemical market as some observers suggested, Broida defended his company's straightforward "opportunistic" policy of keeping pace with state-of-the-art developments in the scientific fields of immunology, microbiology, and endocrinology. By supplying chemicals in small quantities to research centers, Sigma-Aldrich's growth and profits corresponded to breakthrough research in the development of pharmaceuticals from recombinant DNA.
Wall Street analysts also criticized the company's B-Line Systems, Inc., subsidiary, which had been inherited from the Sigma side of the company lineage. Manufacturing metal frameworks for industrial plants, the subsidiary was criticized for competing in the business of specialty chemicals on the one hand, and for contributing small profit margins on the other. Despite such criticism, however, the company's lack of long-term debt, its sparkling earnings record, and its annual profit increase of 20 to 25 percent mitigated the seriousness of such complaints.
Upon Dan Broida's death in 1981 several changes in policy and management affected the company structure. Tom Cori, a nine-year Sigma veteran, became company president. Common stock, formerly controlled by a 50 percent insiders interest, became more widely held. In 1985, 2.2 million of the 8.68 million outstanding shares were sold for $129.5 million. Most of this stock had been held by relatives of Broida, and the sale reduced their holdings to 1.3 million shares. This figure represented approximately the same interest held by the Bader family.
Of the 2.2 million shares sold the company purchased 500,000. Apparently Bader had been opposed to the company purchase partially on the grounds that $13 million was borrowed to finance the transaction. Company debts totaled $32.4 million in short-term loans due in part to a $16 million expansion program started in 1980. Some five million shares, on the other hand, were estimated to be available for trade in the over-the-counter market. Price per share between July and September 1985 ranged from $60.50 to $71, well over the company's $14 per share book value. A three-for-one stock split was soon in order.
Acquisition of Fluka and Creation of Fine Chemicals Division
By 1986 some 1.5 million company catalogs circulated yearly. Sigma-Aldrich's orders continued to average less than $150 each; on the other hand company profits totaled $29 million on volume of $215 million. Although president of a company with such impressive achievements, Cori did not rest on his laurels. Limited governmental funds for scientific research as well as the effect of the strong dollar on overseas sales offered some cause for concern. To facilitate expansion by broadening Sigma-Aldrich's product line, the company purchased Pathfinder Laboratories. The new subsidiary, costing $1.5 million in stock during 1984, manufactured radioactive chemicals. A much larger acquisition came in 1989 when Sigma-Aldrich purchased one of its main European competitors, Switzerland-based Fluka Chemie AG, from Ciba-Geigy and F. Hoffmann-La Roche Ltd. Fluka, maker of biochemicals and organic chemicals for the laboratory market, had annual sales of about $55 million.
In 1991 Sigma-Aldrich took a significant step toward filling more bulk orders through the establishment of a fine chemicals division, which was charged with large-scale manufacturing of chemicals for the pharmaceutical and biopharmaceutical industries. That same year, Bader retired from his position as chairman and was named chairman emeritus. Cori took on the additional title of chairman.
Bader's new role was short-lived, however, as in early 1992 he was voted off the board of directors and stripped of his chairman emeritus title. The reason for the board's action was never made public, although it was speculated to involve either an allegation that Bader had made a bet against the company's stock through a call option, a charge Bader denied, or the fact that Bader had failed to report his exercising of the option to the Securities and Exchange Commission in a timely manner, an action that Bader said had been "an honest mistake." In any event, Bader, who was held in high esteem by numerous Sigma-Aldrich customers on six continents, continued to be one of the largest holders of the company's stock into the early 21st century, when he held about 6 percent.
Acquisitions of Supelco (1993) and Riedel-de Haën (1997)
While sales and earnings growth slowed in the early and mid-1990s to 15 percent or less per year, Sigma-Aldrich continued to expand aggressively through such internal growth initiatives as the adding of manufacturing and distribution capacity as well as through acquisitions. In May 1993 the company acquired Supelco, Inc., from Rohm and Haas Company for $54.7 million. Based in Bellefonte, Pennsylvania, Supelco was a worldwide supplier of chromatography products used to analyze and purify drugs and had annual sales of $48 million. In 1994 David R. Harvey was named president and chief operating officer, with Cori remaining chairman and CEO.
In the area of plant expansion, Sigma-Aldrich by 1997 had three new manufacturing facilities up and running: the first in St. Louis specializing in industrial tissue culture products, the second in the United Kingdom for pharmaceutical intermediates, and the third in Israel for immunochemicals. Meantime, in 1996, the company was fined $480,000 by the federal government for illegally exporting toxic substances that could be used to make chemical weapons; Sigma-Aldrich said that it had "inadvertently violated" U.S. export laws and that there was no evidence that the substances had actually been used to make such weapons.
Acquisitions returned to the fore in the late 1990s. In June 1997 the company purchased a 75 percent interest in Riedel-de Haën, a German maker of laboratory chemicals. In March 1999 Sigma-Aldrich purchased the remaining 25 percent. In December 1998 the company stepped up its presence in the biotechnology sector with the $39.5 million purchase of Texas-based Genosys Biotechnologies, Inc., one of the world's leading suppliers of custom synthetic DNA products, essential components of gene research.
Restructuring and Divestment of B-Line
In spite of the company's acquisition drive, growth slowed to a trickle by 1998, when sales increased by just 6 percent and net income barely edged ahead, increasing by only 0.1 percent. During 1999, a year in which the company was proceeding in a similar direction, significant changes took place at Sigma-Aldrich. In October, Harvey was promoted to president and CEO, with Cori remaining chairman. One month later, Harvey announced that the company would launch a major restructuring and would sell its noncore B-Line Systems subsidiary.
Through the restructuring, Sigma-Aldrich was reorganized into four main business units: laboratory products, which focused on chemicals used for research conducted in academia and industry and which accounted for about 55 percent of the company's revenues; life sciences, which concentrated on specific areas of research, including molecular biology, immunochemistry, cell biology, and chromatography (20 percent of sales); fine chemicals, which was retooled to include both large-scale manufacturing of chemicals and custom manufacturing (15 percent of sales); and diagnostics, which focused on products used to help diagnose and treat diseases, with a particular emphasis on tests in the areas of coagulation and immunoassay (10 percent). Sigma-Aldrich also planned to drive growth through e-commerce, having successfully launched an award-winning web site in September 1998 through which 5 percent of U.S. orders were being placed by the end of 1999. With the completion in May 2000 of the sale of B-Line Systems to Cooper Industries, Inc., for $425 million, Sigma-Aldrich could, for the first time in its history, plan for the future as a company with a single focus, supplying chemicals for the life sciences and high-technology markets.
In the wake of the B-Line Systems divestiture, Sigma-Aldrich pursued sales gains in part by pursuing modest acquisitions. In 2000, for example, the company purchased ARK Scientific GmbH Biosystems, a German oligonucleotide producer; First Medical, Inc., a diagnostic immunoassay developer based in Mountain View, California; and Amelung GmbH, a German maker of coagulation instrumentation. In February 2001 Sigma-Aldrich spent $37.2 million for Isotec, Inc., of Miamisburg, Ohio, a producer of stable isotopes and isotopically labeled compounds used in life science research, medical diagnostics, and PET imaging applications. In a major investment in the future, Sigma-Aldrich in late 2001 opened a new $55 million research and development facility in St. Louis for its biotechnology unit (formerly the life sciences unit). In the meantime, Cori retired at the end of 2000 and Harvey added the chairmanship to his duties.
In the most significant development of 2002, Sigma-Aldrich announced plans to divest its poorly performing diagnostics division, which was generating only a little more than 6 percent of overall revenues. Completed by April 2003, the divestment left the company with three strong business units: scientific research, biotechnology, and fine chemicals. Each of these units had their own R&D, manufacturing, and sales operations. Late in 2002 Sigma-Aldrich agreed to pay a $1.76 million fine to the federal government for exporting without a license a biological chemical with weapons potential. The case involved Research Biochemicals, Inc., a firm Sigma-Aldrich had acquired in 1997.
Increasing Emphasis on Fine Chemicals
Since the restructuring launched in 1999, the fine chemicals unit had gained greater prominence. Seeking to change its image as simply a supplier of laboratory chemicals, Sigma-Aldrich moved aggressively to raise its profile in custom manufacturing. Toward this end, the company in 2004 completed two key acquisitions: Ultrafine, a leading supplier of contract chemical manufacturing services for drug development based in Manchester, England; and Madison, Wisconsin-based Tetrionics, a producer of high-potency cytotoxic (cell-killing) active pharmaceutical ingredients. To further heighten the profile of its fine chemicals unit, Sigma-Aldrich late in 2004 rebranded the business SAFC (standing for Sigma-Aldrich Fine Chemicals).
SAFC was boosted from a top-25 global position in fine chemicals into the top ten via the $366.8 million, February 2005 purchase of the JRH Biosciences division of the Australian firm CSL Limited, the largest acquisition in Sigma-Aldrich's history. Based in the Kansas City suburb of Lenexa, Kansas, JRH specialized in the production of cell cultures and serums used in the development and manufacturing of biopharmaceuticals. JRH's sales for 2004 totaled $150 million. The acquisition of JRH pushed SAFC's 2005 sales to $437 million, or approximately 26 percent of Sigma-Aldrich's total revenues of $1.67 billion.
The year 2005 was significant for several other developments. The acquisition of Proligo Group in April bolstered Sigma-Aldrich's position in research tools for the rapidly growing field of genomics. Boulder, Colorado-based Proligo, a firm with 2004 sales of $40 million that was acquired from Degussa AG, supplied custom DNA, custom RNA, and certain raw materials used in DNA and RNA synthesis. In another reorganization announced in July 2005, Sigma-Aldrich split its scientific research and biotechnology units into three units, each serving a distinct market segment: Research Essentials, responsible for high-volume sales of chemicals to pharmaceutical, academic, and research clients; Research Specialties, offering thousands of products via print and online catalogs, primarily to individual scientists; and Research Biotech, developer of innovative products for life-science research. SAFC was unaffected by this reorganization into an overarching four-unit structure. Finally, at the end of the year, Harvey retired as CEO while remaining chairman. Taking over the management reins was Jai Nagarkatti, a 29-year company veteran who had worked his way up from chemist to president and COO, the latter position attained in August 2004.
Launch of New Strategic Plan in 2006
Revenues grew steadily throughout the initial years of the 21st century, reaching a record $1.8 billion by 2006. The net income of $276.8 million for that year was another best-ever figure. During the year a new strategic plan was launched that, in addition to completing the reorganization announced the previous July, involved four other initiatives: expanding in the faster-growing markets of Canada, Latin America, and the Asia-Pacific region; strengthening the firm's e-commerce channels; implementing process improvement actions to increase profitability; and propelling future growth via strategic and bolt-on acquisitions.
Among the moves made into markets outside the United States and Europe, Sigma-Aldrich in July 2006 opened a state-of-the-art pharmaceutical chemical laboratory in Bangalore, India. Earlier that year, the company bought its largest distributor in China, Beijing Superior Chemicals and Instruments Company, Ltd., and also established a wholly foreign owned enterprise in that nation, Sigma-Aldrich (Shanghai) Trading Co. Ltd. Sigma-Aldrich completed three other strategic acquisitions in 2006: the Iropharm unit of Honeywell International Inc., which operated a plant in Arklow, Ireland, where active pharmaceutical ingredients were produced; Pharmorphix Limited of Cambridge, England, a provider of research services to pharmaceutical and biotech customers; and Advanced Separation Technologies, Inc. (Astec), a Whippany, New Jersey, concern specializing in the development of chemicals used in separating and/or analyzing complex mixtures.
This acquisition spree continued in 2007 with the February purchase for $60 million of Epichem Group Limited, a British maker of chemicals for the semiconductor and solar panel industries that was integrated into SAFC. In line with its strategic plan, Sigma-Aldrich increasingly focused on markets outside the United States and Europe to help reach its goal of annual sales growth of 10 percent. In September 2007 the company announced plans to build a new multipurpose manufacturing and warehousing campus in Wuxi, China. On the Internet front, meantime, Sigma-Aldrich by the third quarter of 2007 had met another goal: increasing web-based ordering for its three research-based units to more than 40 percent of overall sales.
Principal Subsidiaries
Sigma-Aldrich Co.; Aldrich Chemical Company, Inc.; Sigma-Aldrich B.V. (Netherlands); Sigma-Aldrich Chemie GmbH (Germany); Proligo International GmbH (Germany); Sigma-Aldrich Chemie Verwaltungs GmbH (Germany); Sigma-Aldrich Grundsteucks Verwaltungs GmbH & Co. KG (Germany); Sigma-Aldrich Chimie S.N.C. (France); Supelco, Inc.; Advanced Separation Technologies, Inc.; Sigma-Aldrich Biotechnology Holding Co., Inc.; Sigma-Aldrich Research Biochemicals, Inc.; Sigma-Aldrich, Inc.; Sigma-Aldrich Finance Co.; Sigma-Aldrich Chemie GmbH (Switzerland); Sigma-Aldrich Production GmbH (Switzerland); Sigma-Aldrich N.V./S.A. (Belgium); Sigma-Aldrich Chemie B.V. (Netherlands); Sigma-Aldrich Italia S.r.l. (Italy); Sigma-Aldrich (Shanghai) Trading Co. Ltd. (China); Sigma-Aldrich Denmark A/S; Sigma-Aldrich Finland Oy; Sigma-Aldrich Norway AS; Sigma-Aldrich Sweden AB; Sigma-Aldrich Company, Ltd. (U.K.); SAFC Biosciences Limited (U.K.); Pharmorphix Limited (U.K.); Sigma-Aldrich Handels GmbH (Austria); Sigma-Aldrich spol.s.r.o. (Czech Republic); Sigma-Aldrich (O M) Ltd. (Greece); Sigma-Aldrich Kft (Hungary); Sigma-Aldrich Financial Services Limited (Ireland); Sigma-Aldrich Ireland Ltd.; Sigma-Aldrich Sp. z.o.o. (Poland); Sigma-Aldrich Quimica S.A. (Spain); Sigma-Aldrich de Argentina S.A.; Sigma-Aldrich Pty., Limited (Australia); Sigma-Aldrich Oceania Pty. Limited (Australia); Sigma-Aldrich New Zealand Ltd.; SAFC Biosciences Pty. Ltd. (Australia); Sigma-Aldrich Quimica Brasil Ltda. (Brazil); Sigma-Aldrich Canada Ltd.; Sigma-Aldrich Chemicals Private Ltd. (India); Sigma-Aldrich Japan KK; Sigma-Aldrich Korea Ltd.; Sigma-Aldrich Quimica S.A. de C.V. (Mexico); Sigma-Aldrich Pte. Ltd. (Singapore); Sigma-Aldrich (M) Sdn. Bhd. (Malaysia); Sigma-Aldrich Pty. Ltd. (South Africa); Silverberry Limited (Ireland); Shrawdine Limited (Ireland); Sigma-Aldrich Ireland Ltd.; SAFC, Inc.; SAFC Biosciences, Inc.
Principal Divisions
Research Essentials; Research Specialties; Research Biotech; SAFC.
Principal Competitors
Merck KGaA; General Electric Company; Evonik Degussa GmbH; BASF Aktiengesellschaft; Royal DSM N.V.; Applied Biosystems Group; Thermo Fisher Scientific, Inc.; Roche Holding Ltd.; Invitrogen Corporation; Tyco International Ltd.; Lonza Group Ltd.; Wako Chemicals USA, Inc.; VWR International Inc.; Millipore Corporation; Qiagen N.V.
Further Reading
Bader, Alfred, Adventures of a Chemist Collector, London: Weidenfeld and Nicolson, 1995, 288 p.
Boswell, Clay, "Sigma-Aldrich Expands SAFC," Chemical Market Reporter, January 24, 2005, pp. 2, 27.
------, "Sigma-Aldrich Set for Global Growth in Pharmaceuticals and Fine Chemicals," Chemical Market Reporter, August 3, 1998, p. 17.
------, "Sigma-Aldrich's New SAFC Aims for Top 10," Chemical Market Reporter, November 1, 2004, pp. 6, 8.
Byrne, Harlan S., "Sigma-Aldrich: The Right Chemistry for Strong Performance," Barron's, May 17, 1993, pp. 47-48.
Corey, Andrea, "Sigma-Aldrich Restructuring, Selling Metals Division," St. Louis Business Journal, February 21, 2000, p. 8.
------, "Web Site Eases Ordering for Sigma-Aldrich Clients," St. Louis Business Journal, February 14, 2000, p. 40.
Desloge, Rick, "Sigma-Aldrich Goes on Acquisition Spree," St. Louis Business Journal, October 13, 2006, pp. 1+.
Dwyer, Joe, III, "Sigma-Aldrich Using Catalog Blitz to Further Market Share," St. Louis Business Journal, March 12, 1990, p. 7A.
Flannery, William, "Sigma-Aldrich Meeting Erupts over Dispute," St. Louis Post-Dispatch, May 6, 1992, p. 1B.
Jarvis, Lisa, "SAFC Forges Ahead," Chemical Market Reporter, November 21/December 4, 2005, pp. 34-35.
------, "Sigma-Aldrich Division Plans $55 Million Research Facility," Chemical Market Reporter, July 10, 2000, p. 5.
Lerner, Matthew, "Sigma-Aldrich Strengthens Role As Pharma Supplier," Chemical Market Reporter, July 7, 1997, p. 14.
Manor, Robert, "Bad Bet?: Sigma-Aldrich Founder Bader Decries Dismissal," St. Louis Post-Dispatch, April 16, 1992, p. 1B.
McCoy, Michael, "Image Improvement at Sigma-Aldrich: Firm's Purchase of Ultrafine Is Part of Profile Raising in Custom Manufacturing," Chemical and Engineering News, May 31, 2004, p. 17.
Melcher, Rachel, "Sigma-Aldrich Buys British Chemical Maker," St. Louis Post-Dispatch, February 13, 2007, p. C2.
------, "Sigma-Aldrich Invests in Biotech," St. Louis Post-Dispatch, September 28, 2007, p. B4.
------, "Sigma-Aldrich Looks to Evolve with Plan," St. Louis Post-Dispatch, November 2, 2005, p. B1.
------, "Sigma-Aldrich Mixes Theory, Magic for Another Reconstruction," St. Louis Post-Dispatch, January 12, 2003, p. E1.
------, "Sigma-Aldrich Tries to Bolster Branding of Fine Chemicals," St. Louis Post-Dispatch, October 26, 2004, p. B1.
Mirasol, Feliza, "SAFC Speeds into New Year," ICIS Chemical Business Americas, January 29/February 4, 2007, pp. 32-34.
------, "Sigma-Aldrich Upgrades Fine Chemicals Operations," Chemical Market Reporter, May 17, 1999, p. 9.
Montgomery, Leland, "Betting on Biotech with Sigma-Aldrich," Financial World, June 11, 1991, pp. 21-22.
Moore, Samuel K., "Sigma-Aldrich Reorganizes Chemicals, Sells Metals Operation," Chemical Week, December 1, 1999, p. 16.
Mullin, Rick, "Sigma-Aldrich: Building a High-Tech Platform," Chemical Week, May 8, 2002, pp. 21-24.
------, "Sigma-Aldrich's New Five-Year Plan," Chemical and Engineering News, February 20, 2006, pp. 20-21.
Ouellette, Jennifer, "CFO Forum: Reorganization Key to Sigma-Aldrich Growth Strategy," Chemical Market Reporter, September 29, 2003, pp. 17-18.
Papanikolaw, Jim, "Sigma-Aldrich Sells Its B-Line Systems to Cooper Industries," Chemical Market Reporter, April 3, 2000, p. 3.
Rothenberg, Eric, "Consistent Chemistry," Financial World, August 9, 1988, p. 42.
Scott, Alex, "Sigma-Aldrich Acquires Custom Manufacturer," Chemical Week, June 30/July 7, 2004, p. 37.
"Sigma-Aldrich: A Little Company Carves a Big Niche," Dun's Review, September 1979, pp. 34+.
"Sigma-Aldrich Buys Proligo for RNA Technology," Chemical Market Reporter, February 21, 2005, p. 2.
Simon, Ruth, "Mail-Order Enzymes," Forbes, May 19, 1986, p. 46.
Stamborski, Al, "Sigma Announces It Will Sell Its Only Non-Life Sciences Business," St. Louis Post-Dispatch, March 28, 2000, p. C7.
Steyer, Robert, "Sigma Sees Sales Doubling in Five Years," St. Louis Post-Dispatch, May 2, 1990, p. 7B.
Thayer, Ann M., "Sigma-Aldrich: Back on Track," Chemical and Engineering News, October 8, 2001, pp. 17-19.
Van Arnum, Patricia, "Sigma-Aldrich Builds Its Position in the Life Sciences Arena," Chemical Market Reporter, June 19, 2000, p. 15.
— Updated by David E. Salamie
