Molins PLC
13 February 2002
ACQUISITION OF ARISTA LABORATORIES, INC
Molins PLC, the international specialist engineering company, has agreed to
acquire Arista Laboratories, Inc., an independent smoke constituent analytical
facility. The acquisition extends considerably Molins' existing scientific
services.
Arista, formed by Battelle Memorial Institute, is an analytical testing company
designed to meet the regulatory driven demand for the characterisation of
tobacco smoke and leaf. Arista specialises in providing routine and non-routine
determinations of the full range of smoke constituents to the well defined
quality standards of ISO 17025.
Based in Richmond, Virginia, Arista commenced operations in 2000 and now has 22
employees. In its latest audited accounts to 30 September 2001 it reported a
trading profit for its first full year of $240,000 on sales of $1.9million.
Arista is forecasting a significant increase in both sales and profits for the
current year. Shareholders' funds at the date of acquisition are expected to be
in the region of $0.5million.
Molins is initially paying a cash consideration of $3.8 million, with a
potential further payment of $0.7 million to be made within 12 months, dependent
on certain performance criteria.
Dr Steven McLaughlin, Vice President and General Manager of Health and Human
Services Market Sector at Battelle will remain a Director of Arista. Battelle is
entering into a consultancy agreement with Arista to provide technical support.
Through the acquisition of Cerulean (formerly Filtrona Instruments and
Automation) in 2000, Molins is able to provide a full analysis of the physical
properties of cigarettes. Cerulean manufactures smoke analysis equipment and has
extensive knowledge of the nature of the analysis of cigarette smoke. The
acquisition of Arista extends considerably the range of services that Molins
Scientific Services is able to offer. It also provides for the first time the
ability to offer services through a fully independent laboratory.
Molins values its association with Battelle which was founded in 1925. It has a
staff of 7,500 scientists, engineers and support specialists and serves some
2,000 companies and government agencies around the world. Major technology
centres are located in Columbus, Ohio; Richland, Washington; and Geneva,
Switzerland. Battelle operates the Pacific Northwest National Laboratory. It
derives revenues of $1 billion a year from its services to industry in
developing new technologies and products.
13 February, 2002
Enquiries:
Molins PLC
Tel: 01908 219000
Peter Byrom, Chairman
David Cowen, Group Finance Director
Issued by: Citigate Dewe Rogerson
Tel: 020 7638 9571
Margaret George
This information is provided by RNS
The company news service from the London Stock Exchange
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