Server: Netscape-Communications/1.1 Date: Thursday, 20-Nov-97 20:07:47 GMT Last-modified: Wednesday, 28-May-97 15:53:28 GMT Content-length: 3795 Content-type: text/html
German Federal Cartel Office Clears Planned AlliedSignal And Sigma-Aldrich Laboratory Chemicals Partnership
SEELZE, Germany, May 28, 1997 --- AlliedSignal Inc. and Sigma-Aldrich Corporation announced today that they received formal clearance from the Federal Cartel Office of Germany for Sigma-Aldrich’s acquisition of an interest in a new partnership, RdH Laborchemikaliem GmbH & Co., KG.
Under the planned acquisition, the laboratory chemicals business of AlliedSignal Specialty Chemicals’ Riedel-de Haën unit, based in Seelze near Hannover, will be operated as a partnership, with 75% ownership by Sigma-Aldrich and 25% by Riedel-de Haën.
The Riedel-de Haën laboratory chemicals business sells more than 6,000 different products, including high purity solvents, analytical reagents and organic chemicals, that are used in research and process laboratories throughout the world. Production, packaging and primary distribution operations will remain at the laboratory chemicals business’ site. Sigma-Aldrich will sell and market the partnership’s products globally.
The laboratory chemicals business currently has worldwide sales of about (U.S.) $40 million annually. It will employ about 200 persons in Seelze who will be under the direction of the partnership’s new president, Dr. Karsten Bode, most recently a vice-president for Sigma-Aldrich at its Fluka subsidiary in Switzerland.
The transaction is expected to be finalized within several weeks. The price paid by Sigma-Aldrich for its partnership interest was not announced.
"This partnership brings together the strength of the Riedel-de Haën brand name with one of the leaders in the laboratory chemicals business. We expect to accelerate growth," AlliedSignal Specialty Chemicals President Paul J. Norris said.
Sigma-Aldrich Corporation Chairman Dr. Tom Cori noted that his company is "very pleased to be partners with AlliedSignal. Combining the highly regarded Riedel-de Haën brand laboratory chemicals and our other strong brands -- Sigma, Aldrich, Fluka and Supelco -- will better serve the market and, in so doing, will help us become a strong competitor."
AlliedSignal Specialty Chemicals, with manufacturing locations in Europe, North America and Asia, is a unit of AlliedSignal Inc. Headquartered in northern New Jersey, AlliedSignal Inc. is an advanced technology and manufacturing company, serving customers worldwide with aerospace and automotive products, chemicals, fibers plastics and advanced materials.
Sigma-Aldrich, headquartered in St. Louis, Missouri, develops, manufactures and distributes a broad range of high quality chemicals for use in research and development, the diagnosis of disease, and as specialty chemicals for manufacturing purposes. Its B-Line Systems subsidiary manufactures and markets a complete line of metal products used in the installation and retrofitting of electrical, mechanical and telecommunications applications.
Contacts:
Edward M. Romanoff AlliedSignal Inc. (USA) (201) 455-2144 |
Richard Jung AlliedSignal Inc. (Germany) 49-05137-999-410 |
Kirk Richter Sigma-Aldrich Corp. (USA) (314) 771-5765 |
Karsten Bode Fluka Chemie, A.G. 41-81-755-2511 or 49-51-37-999-434 |