UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


         Date of Report (Date of earliest event reported): July 5, 2007
                                                           ------------


                                Aceto Corporation
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             (Exact name of registrant as specified in its charter)


                                    New York
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                 (State or Other Jurisdiction of Incorporation)


               000-04217                          11-1720520
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         (Commission File Number)      (IRS Employer Identification Number)


            One Hollow Lane, Suite 201, Lake Success, New York 11042
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                    (Address of Principal Executive Offices)


                                 (516) 627-6000
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              (Registrant's Telephone Number, Including Area Code)


                                       N/A
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          (Former Name or Former Address, if Changed Since Last Report)


Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following   provisions  (see  General   Instruction   A.2.   below):

/_/ Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

/_/ Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14-12)

/_/ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17CFR 240.14d-2(b))

/_/  Pre-commencement  communications  pursuant  to  Rule  13-e-4(c)  under  the
Exchange Act (17 CFR 240.13e-4(c))







Item 5.02 Departure of Directors or Principal  Officers;  Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

     On July 5, 2007, Ira Kallem announced that for personal reasons he will not
be  standing  for  reelection  to the  Registrant's  board of  directors  at the
Registrant's  annual  meeting of  shareholders  expected  to be held in December
2007.


                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant has duly caused this Current Report to be signed on its behalf by the
undersigned hereunto duly authorized.



                                              ACETO CORPORATION
                                              (Registrant)


Dated:  July 9, 2007                          By: /s/ Leonard Schwartz
                                              ----------------------------------
                                              Leonard Schwartz, Chairman,
                                              CEO and President