LIFE TECHNOLOGIES REORGANIZES ITS U.S. OPERATIONS
LIFE TECHNOLOGIES REORGANIZES ITS U.S. OPERATIONS GAITHERSBURG, Md., Nov. 20 /PRNewswire/ -- Life Technologies, Inc.
(NASDAQ: LTEK) announced today that it has reorganized its U.S. operations to more properly align its expense structure with expected revenue growth. This move will enable the company to compete more effectively in the markets it serves. The reorganization will result in the elimination of approximately 40 positions at LTI's two Maryland sites and its Grand Island, N.Y. facility. LTI employs approximately 900 people in the U.S. out of a total of nearly 1,400 worldwide. The financial impact of the reorganization on LTI's fourth quarter 1991 earnings is not expected to exceed 5 cents per share.
Life Technologies, Inc. develops, manufactures and supplies more than 2,000 products used principally in life science and commercial manufacture of genetically engineered products. The company believes it is a leading supplier of sera and other cell growth media, as well as other biological products necessary for recombinant DNA procedures. -0- 11/20/91 /CONTACT: Joseph C. Stokes, Jr. or Eric Winzer of Life Technologies, 301-840-8000; or Kevin Costello of Cameron Associates, 212-683-4545, for Life Technologies/ (LTEK) CO: Life Technologies Inc. ST: Maryland IN: MTC SU: RCN SH-FC -- NY011 -- 5279 11/20/91 09:10 EST
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|Date:||Nov 20, 1991|
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