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Thermo acquires Jouan.

Waltham, MA 9/17/03 and Paris, France 9/18/03--Thermo Electron has acquired lab equipment maker Jouan SA for 110.9 million [euro] ($124 million = 1.12 [euro] = $1) in cash and assumption of around 7.1 million [euro] ($8.0 million) of consolidated net debt. Jouan's 2003 sales are estimated to total 82 million [euro] ($92 million). Thermo Electron President and CEO Marijn E. Dekkers commented, "Jouan is a great example of a strategic acquisition that builds on Thermo's strengths in Otis case by broadening our sample preparation and storage product lines, sales channels and geographic market coverage." He noted Jouan's position in centrifuges and biological safety cabinets and the company's extentive distributor network, which includes Western Europe as well as Eastern Europe, Russia and Latin America. Jouan sells products under the Precision, NAPCO, Heto, Holten and ALC brand names and has manufacturing operations in France, Denmark, Italy, the Czech Republic and the US. The acquisition is expected to be completed by year's end.

The is the first significant acquisition for Thermo since its strategic reorganization efforts began three years ago. At first blush seems a bit odd as Thermo has given so much emphasis to instrumentation. However, Jouan gives Thermo a much more extensive portfolio of lab equipment, especially in the important sample preparation arena. It also greatly enhances its European market efforts on the equipment side. Dow Jones Business News reports 2002 sales for Jouan of $107.2 million.
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Title Annotation:Executive briefing: news, trends & market intelligence for instrument executives; Thermo Electron Corp.; lab equipment maker Jouan S.A.
Publication:Instrument Business Outlook
Geographic Code:1USA
Date:Sep 30, 2003
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Next Article:FOSS merges two subsidiaries.

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