MINNEAPOLIS, July 1, 2016 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) announced today the acquisition of Space Import-Export Srl (Space) of Milan, Italy. Space is a long and trusted partner of Bio-Techne, distributing its products since 1985 and creating a very effective and visible presence in the Italian market. Space's Mr. Luca Cicchetti, will remain with Bio-Techne as Managing Director and lead the Company's southern European commercial operations.
In conjunction with the Space acquisition, Bio-Techne is announcing the hiring of Mr. Gary Stapleton as Vice President of Europe. Mr. Stapleton comes to Bio-Techne with extensive international experience in operations and finance. Mr. Stapleton will be responsible for Bio-Techne's sales and operations for all of Europe and the Middle East.
Charles R. Kummeth, President and Chief Executive Officer of Bio-Techne, commented, "Space has done an excellent job growing our business in the Italian market and is well recognized as our trusted representative in this territory. Having a direct local presence enables Bio-Techne to serve our Italian customers more effectively by removing the transactional barriers existing in a traditional distributor relationship. We are also very pleased that Mr. Cicchetti has agreed to stay on board and deploy the successful strategies used to grow the Italian market to additional southern European geographies." Mr. Kummeth continued, "Mr. Stapleton comes to us with tremendous commercial experience and we are fortunate to have him join our ranks. The addition of Space and our enhanced European commercial leadership team strengthens Bio-Techne's presence and visibility in greater Europe, ensuring our products are the first to be considered by our growing customer base as they continue to tackle ground-breaking scientific challenges requiring the highest quality reagents and instrument solutions."
Our press releases may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements involve risks and uncertainties that may affect the actual results of operations. Forward-looking statements in this press release include statements regarding our belief about the potential opportunities for increased revenues in the European and Middle Eastern region. The following important factors, among others, have affected and, in the future could affect, the our actual results: the effect of new branding and marketing initiatives, the integration of new leadership, the introduction and acceptance of new products, the levels and particular directions of research and product development by our customers, the impact of the growing number of producers of biotechnology research and diagnostics products and related price competition, general economic conditions, the impact of currency exchange rate fluctuations, and the costs and results of our research and product development efforts and those of companies in which we have invested or with which we have formed strategic relationships.
For additional information concerning such factors, see the section titled "Risk Factors" in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements we make in our press releases due to new information or future events. Investors are cautioned not to place undue emphasis on these statements.
Bio-Techne Corporation (NASDAQ: TECH) is a leading developer and manufacturer of high quality purified proteins––notably cytokines and growth factors, antibodies, immunoassays, as well as biologically active small molecule compounds --- which are sold to biomedical researchers and clinical research laboratories; these operations constitute the core Biotech Division, headquartered in Minneapolis, Minnesota. The Protein Platform Division manufactures innovative protein analysis tools under the ProteinSimple brand name that greatly automate western blotting and immunoassay practices. The Clinical Controls Division manufactures FDA-regulated controls, calibrators, blood gas and clinical chemistry controls for OEM customer and clinical customers. Bio-Techne products assist scientific investigations into biological processes and the nature and progress of specific diseases. They aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses. With thousands of products in its portfolio, Bio-Techne generated approximately $452 million in net sales in fiscal 2015 and has approximately 1,500 employees worldwide. For more information on Bio-Techne and its brands, please visit www.bio-techne.com.
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SOURCE Bio-Techne Corporation