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
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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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