Apogent Technologies Inc. Announces Three Transactions With Kimble Glass Inc.
Kimble Glass Inc. is a company of the Gerresheimer Group, a global pharmaceutical and cosmetics glass and packaging company based in Dusseldorf, Germany. Kimble Glass, headquartered in Vineland, New Jersey, manufactures glass tubing and fabricated glass products for pharmaceutical, scientific and educational applications worldwide. Kimble is a key supplier of reusable, disposable and specialty glassware to the laboratory market. Kimble's science products business unit has strong brand recognition and is highly regarded for its quality.
Through its NNI subsidiary, Apogent is an industry leader in the supply of plastic products to the laboratory market worldwide. The NNI-Kimble joint venture will enable NNI to offer one-stop shopping for glass and plastic reusable, disposable and specialty labware. In addition to streamlining product offerings and operations, the alliance will enhance the range and availability of glass and plastic laboratory products for customers. The joint venture also will enable NNI and Kimble to achieve operating efficiencies by combining product servicing, marketing and sales functions.
National is a major supplier of chromatography vials. National will use the acquisition of the Kimble chromatography products to expand its customer base. After the acquisition, Kimble will supply National with vials and inserts, enabling National to have access to a low-cost supplier of these products. National expects to achieve approximately $6.5 million in sales revenues over the next twelve months for the acquired chromatography products.
Chase is a leading manufacturer of disposable glass products. In April 2001, Chase acquired Kimble's disposable glass culture tube product line and consolidated this product line into Chase's Rockwood, Tennessee facility. With today's acquisition, Chase will further strengthen its position in the disposable glassware market and will improve plant/equipment utilization and overhead absorption. Chase anticipates that sales revenues for the acquired disposable products over the next twelve months will be approximately $2.0 million.
Robert Ahlgren, President of NNI, stated that: "Partnering with Kimble to have a complete product offering in reusable and disposable glassware for the laboratory market will enhance NNI's extensive product portfolio. In addition, this alliance venture will allow NNI to provide a single-source solution to the laboratory customer via distribution." Commenting on the chromatography products acquisition, Mr. Ahlgren continued: "Acquiring the Kimble-brand chromatography product line will expand National's presence within this market segment. Also, National will increase its product offering to its current customer base."
With regard to the disposable products transaction, Steve Wiatt, President of Apogent's Industrial Glass Products Group, observed: "This acquisition is a continuation of our efforts to consolidate disposable glassware and position Chase as a world leader in this market."
Donald C. Devine, Kimble's President, stated: "We are very excited about the opportunity to partner with NNI to promote and manage Kimble's "KIMAX" and "KONTES" brands of glassware for the laboratory market. With these transactions, Kimble will be in a stronger position to focus on its pharmaceutical packaging and tubular glass business units."
Gerresheimer's Chief Executive Officer, Dr. Axel Herberg, stated: "The Kimble-NNI joint venture will clearly enhance our market position in worldwide laboratory markets. We are sure that the combination of the strengths of NNI and Kimble will create significant value for our customers and shareholders."
Commenting on all of the Kimble transactions, Apogent's President and CEO, Frank H. Jellinek, Jr. said: "Kimble's strong brand recognition and complementary lines of glass labware support NNI's strategic direction towards maintaining a significant presence in the laboratory market. With the acquisition of the Kimble Chromatography Products and Disposable Products, we will continue to strengthen our market positions while achieving greater operating efficiencies."
BUSINESS DESCRIPTION
Apogent's subsidiaries design, manufacture and market value-added laboratory and life science products for the clinical, research and industrial markets, worldwide. The Company's lines of business include Labware and Life Sciences, Diagnostics and Microbiology, Clinical and Industrial, and Laboratory Equipment.
Apogent's broad array of industry leading products include Nalge Nunc International reusable and disposable multi-well plates and plastic labware; Microgenics drug testing products; Applied Biotech rapid diagnostic tests; Erie Scientific coated and printed glass for clinical diagnostics and microarray applications; Richard-Allan Scientific histology and immunohistochemistry consumables and equipment; and Barnstead Thermolyne laboratory equipment and water systems.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements as defined under Federal securities laws, including statements concerning the Company's strategic and financial goals and market growth. These and other statements that relate to future results and events are based on the Company's current expectations. Actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including the level of demand for the Company's products; currency fluctuations; the intensity of competition; and other factors affecting the Company's business and prospects discussed in the Company's filings with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-look statement, whether as a result of new information, future events or otherwise.
CONTACT: Apogent Technologies Inc.
Jeffrey C. Leathe
Executive Vice President and Chief Financial Officer
(603) 433-6131 Ext. 430
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.