Acquisition and Licensing agreement

RNS Number : 9175O

Porvair PLC

26 September 2013

 



FOR IMMEDIATE RELEASE                                                                  26 September 2013

Licensing agreement with Thermo Fisher Scientific

 and

Acquisition of Thomas Cain Inc

Porvair plc ("Porvair"), the specialist filtration and environmental technology group today, today announces two agreements to advance its interests in the life science and environmental laboratory markets.

A technology licensing agreement has been struck with Thermo Electron Manufacturing Ltd, a division of Thermo Fisher Scientific ("Thermo"), a global leader in scientific and laboratory supplies. Under this agreement, Porvair and Thermo will commercialise an exclusive range of life science sample preparation filters.  Porvair has licensed its filter technology and will manufacture the products.  Thermo will undertake sales and marketing of the filters worldwide.

In an unrelated agreement, Porvair has acquired the business and assets of Thomas Cain Inc, a manufacturer of environmental laboratory equipment and consumables.  This small acquisition will add a complementary range of block digestion instruments and consumables to Seal's water quality analysis products.  The business will be integrated into Seal Analytical's operation in Wisconsin, USA.

Ben Stocks, Group Chief Executive, commented:

"As part of Porvair's focus on new product development, we have been working for several years with Thermo to develop a range of laboratory sample preparation products, which we are excited to see move into the commercial phase.  Porvair has received a technology transfer fee and, in addition, will generate manufacturing margins and royalties on future revenues.

"I am pleased to welcome the staff of Thomas Cain into the Porvair Group.  Their high quality product range is highly complementary to that offered by Seal Analytical and will fit well with sales and marketing programmes already underway."

For further information, please contact:

Porvair plc	01553 765 500
Ben Stocks, Chief Executive
Chris Tyler, Group Finance Director
Buchanan	0207 466 5000
Charles Ryland / Helen Greenwood / Clare Akhurst

Notes to Editors

Porvair is a group of specialist filtration and environmental technology businesses.  Its businesses design and manufacture a range of bespoke consumable filtration products that are used in a range of niche filtration markets.  Its principal markets are aviation, energy and industrial process, environmental laboratories and non-ferrous metals.

 

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