Printer Friendly

SYBRON ANNOUNCES ACQUISITION OF I-CHEM RESEARCH

 MILWAUKEE, Aug. 12 /PRNewswire/ -- Sybron Corp. (NYSE: SYB) and I- Chem Research, Inc. announced today that a newly formed subsidiary of Nalge Co., Sybron's plastic labware and packaging products company, has signed an agreement with I-Chem pursuant to which the Nalge subsidiary is to acquire the assets of I-Chem. I-Chem, founded in 1984, is a market leader in the business of cleaning, preparing and selling glass and plastic containers and accessories used by firms in the environmental services industry to collect samples of various substances for testing or storage. I-Chem's recent annual sales levels approximate $10 million.
 Nalge Co. is in the business of manufacturing and marketing a diversified line of reusable and disposable plastic labware products and specialty packaging products for the life sciences market. Nalge has in recent years also participated in the environmental market by providing plastic bottles and other containers to customers like I-Chem in the environmental testing and services markets. According to David T. Della Penta, Nalge's president, "The I-Chem acquisition will provide Nalge a logical product line extension and direct participation in the environmental testing and services markets and, because I-Chem products are sold domestically through the same distribution network as Nalge's products, Nalge will be able to leverage its marketing and administrative assets with respect to the I-Chem product line. We also believe that because I-Chem does not market its products internationally, additional opportunities exist to channel the I-Chem product line through Nalge's international distribution network."
 The transaction, expected to be completed in September, is subject to certain contingencies, including the completion by Nalge of its financial and legal review.
 Kenneth F. Yontz, president and CEO of Sybron, stated that the I- Chem acquisition reflects Sybron's intent to increase the company's growth through strategic acquisitions.
 Sybron Corp.'s subsidiaries design, manufacture and market laboratory and dental supply products worldwide. Products include Erie Scientific Co. microscope slides, Nalge Co. reusable and high value disposable plastic labware, Barnstead Thermolyne precision heating and stirring apparatus and water purification systems for laboratories, Ormco orthodontic products and Kerr dental materials.
 -0- 8/12/93
 /CONTACT: Dennis Brown of Sybron, 414-274-6600; or John Ochotnicky, of Hoffman York & Compton, 414-289-9700, for Sybron/
 (SYB)


CO: Sybron Corp.; I-Chem Research, Inc. ST: Wisconsin IN: SU: TNM

WB -- NY075 -- 2267 08/12/93 16:36 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 12, 1993
Words:383
Previous Article:PUBLIC SERVICE ELECTRIC AND GAS TESTIFIES AT DEPE DRAFT PERMIT HEARING
Next Article:TEXACO ANNOUNCES PUBLIC ISSUANCE OF $200 MILLION IN 30-YEAR DEBT SECURITIES
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters