Schleicher & Schuell has been purchased by Whatman plc
As of November 30, 2004 Whatman will purchase Schleicher & Schuell MicroScience GmbH, Schleicher & Schuell BioScience GmbH and Schleicher & Schuell GmbH for 50.2 million Euro and including an estimated net debt on completion of Euro 4.4 million.
Hahnemühle FineArt GmbH as well as DIA-Nielsen MircoTech GmbH, remain outside this transaction and will continue to work as independent companies.
Whatman plc, headquartered in London, will be in a stronger growth position with the acquisition of Schleicher & Schuell's MicroScience and Bioscience business centers.
With the addition of around 40 % of sales from Schleicher & Schuell, the enlarged group will have a combined share of approximately 16 % of the global LabSciences sector, making it the clear No. 3 in the industry and enhancing its competitive position against the sector leaders, Millipore and Pall Corporation. The remainder of the sector below these three major groups is more fragmented.
"Whatman has approached us because of our high-quality products and the company's excellent reputation in the market. We expect that employees and customers of both companies will benefit from this proposed merger," said Dr. Werner Specht, Schleicher & Schuell's chief executive.
"Schleicher & Schuell's leading position in Germany gives Whatman a significant presence in Europe's largest economy", commented Simon May, Vice Chairman of Whatman plc, when the proposed acquisition was announceed to Schleicher & Schuell's employees.
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