VWR Completes Acquisition Of 10% Equity Position In Chemdex

VWR Scientific Products (West Chester, PA) one of the nation's largest distributors of laboratory supplies, chemicals, and equipment, has completed its planned acquisition of a 10% equity stake in Chemdex Corp., an electronic commerce company serving the laboratory research market.

On March 8, 1999, VWR and Chemdex announced that they would partner to create an Internet-based one-stop shop for lab supplies. Under the terms of the agreement, Chemdex will acquire VWR's third-party purchasing service, which currently generates $85 million in annual sales by providing customers access to products not part of the VWR core product line.

In addition to its 10% equity position in Chemdex, VWR has acquired a seat on the Chemdex board of directors, filled by Jerrold Harris, president and CEO of VWR. The acquisition of VWR's third-party purchasing service by Chemdex is not expected to have a material impact on VWR's 1999 earnings.

The partnership with Chemdex will enable VWR to expand and extend its third party purchasing option, giving all of its customers the convenience of a cost-effective, Web-based procurement interface for specially-requested items not part of the traditional VWR product line.

With sales in excess of $1.3 billion, VWR Scientific Products Corp. operates an national distribution network consisting of five automated regional distribution centers and over 50 service centers and just-in-time facilities. VWR currently offers more than 350,000 products from more than 1,800 vendors. The company also provides outsourced procurement services to the research industry.

For more information, call VWR at 610-431-1700.