Corning to Acquire Plaslab S.A.S.
Acquisition to add sampling, testing, and analysis consumables to its life sciences product portfolio
Corning Incorporated announced that it has reached an agreement with the shareholders of Plaslab S.A.S. to acquire all outstanding shares of the company. Assuming certain closing conditions are met, the acquisition is expected to be completed in the fourth quarter of 2010.
Plaslab is a French simplified joint stock company and the holding company of Plastiques Gosselin S.A.S. Headquartered in Borre, France, Plastiques Gosselin is a manufacturer and distributor of high-quality plastic consumable labware in Europe. Plastiques Gosselin would be integrated into Corning's Life Sciences segment.
By providing customers outside Europe with greater access to Plastiques Gosselin's product portfolio, this acquisition would support Corning's ongoing commitment to supply its customers with a comprehensive line of laboratory research tools. Plastiques Gosselin's wide array of sampling, testing, and analysis products (including Petri dishes, bottles, containers, tubes, bags, and accessories) are complementary to the general labware, cell culture, lab equipment, and HTS/Assay products offered today by Corning. In addition, the acquisition would enable Corning to continue to improve its strategic balance by strengthening its Life Sciences segment.
Jean Gosselin, president and CEO, Plaslab S.A.S. and Plastiques Gosselin, would remain with the business in a similar capacity.
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