Gerresheimer Successfully Finalises Formation of Joint Venture "Kimble Chase Life Science and Research Products LLC"
DUSSELDORF, Germany, July 3 /PRNewswire/ -- - Through the joint venture, Gerresheimer expands its leading position in the field of life science research. - CEO Dr. Axel Herberg: "The joint venture is an important part of Gerresheimer's growth strategy and allows both companies to profit from market and production synergies." - Kimble Chase Life Science and Research Products LLC had total sales of around EUR100 million in 2006 (pro forma). The formation of the joint venture was finalised yesterday. On 20 March 2007 Gerresheimer had already announced the establishment of the joint venture with a subsidiary of Thermo Fisher Scientific Inc. (TMO) in the USA. The outstanding conditions, particularly approval by the antitrust authorities, have now been fulfilled. With a 51% share Gerresheimer has a majority interest in the new company "Kimble Chase Life Science and Research Products LLC" (Kimble Chase). TMO holds 49% of the shares. The joint venture specialises in the development, production and marketing of life science products and employs around 1,500 people in seven locations. Gerresheimer contributes production plants in the USA, Mexico and China and TMO production plants in the USA and Germany. The company is based in New Jersey/USA. Its products are used in industrial pharmaceutical research and are largely marketed under the trademarks Kimble, Kontes and Bomex. In the financial year 2006, sales by Kimble Chase totalled around EUR100 million (pro forma). "The joint venture marks another important step by the Gerresheimer Group on the way to becoming a global pharma & life science group. In this way we will continue to pursue our growth strategy in the future and offer our shareholders an attractive investment," says Dr. Axel Herberg, CEO of Gerresheimer AG With Kimble Chase the Gerresheimer Group employs around 10,000 people in 37 locations around the world and approaches a total sales level of EUR1 billion in 2007 as planned. Since 11 June 2007 Gerresheimer has been listed in the Prime Standard of the Frankfurt stock exchange, following one of the largest flotations of the year with a total issue volume of around EUR1 billion. Note to Editors You can request photos on this topic via our homepage. If required, we can also send you high-resolution data. Reprint free of charge. Please send specimen copy to Gerresheimer. (c) Gerresheimer Contact: Burkhard Lingenberg Director Corporate PR & Marketing Phone +49-(0)211-6181-250 email@example.com Gerresheimer is a pharmaceutical & life science supply and services company with market leading positions of specialty products made of glass and plastic. Gerresheimer owns 37 production sites in Europe, North America and Asia and employs approximately 10,000 employees worldwide.
SOURCE Gerresheimer AG
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