Gerresheimer Successfully Finalises Formation of Joint Venture "Kimble Chase Life Science and Research Products LLC"

Jul 03, 2007, 01:00 ET from Gerresheimer AG

    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
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     (c) Gerresheimer
     Burkhard Lingenberg
     Director Corporate PR & Marketing
     Phone +49-(0)211-6181-250
     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