THERMO INSTRUMENT SYSTEMS COMPLETES ACQUISITION OF HILGER ANALYTICAL LTD.
WALTHAM, Mass., Aug. 6 /PRNewswire/ -- Thermo Instrument Systems Inc. (AMEX: THI) today announced that it has completed the acquisition of privately held Hilger Analytical Ltd., a U.K.-based manufacturer of analytical instruments, for approximately $3 million in cash. Hilger, which is based in Margate, England, had worldwide sales of approximately $7 million for the fiscal year ended in March 1993. "We are pleased that Hilger has become the newest addition to our company, as its products, distribution network, and manufacturing abilities add to our strengths in a growing global market," said Earl R. Lewis, Thermo Instrument Systems vice president and president of its Thermo Jarrell Ash Corporation subsidiary. "Hilger has focused its efforts on the metals-analysis markets, developing products such as glow discharge sources, automation equipment, and advanced optical systems that complement Thermo Jarrell Ash's current product lines. The combination of our businesses also will allow us to better serve several key markets, especially in Asia and Third World nations, where Hilger has earned an excellent reputation." Lewis noted that the relationship between the two companies dates back to the 1930s, when Jarrell Ash sold Hilger's products in the United States. Thermo Instrument Systems develops, manufactures, and markets analytical instruments used to detect and monitor air pollution, radioactivity, complex chemical compounds, and toxic metals and other elements in a broad range of liquids and solids. The company also provides environmental science and engineering services, laboratory- based testing, and nuclear health physics services. Thermo Instrument Systems is a public subsidiary of Thermo Electron Corporation (NYSE: TMO). -0- 8/6/93 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/ (THI TMO)
CO: Thermo Instrument Systems; Hilger Analytical Ltd.; Thermo Electron ST: Massachusetts IN: SU: TNM
DJ -- NE005 -- 0210 08/06/93 09:32 EDT
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|Date:||Aug 6, 1993|
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