ATMI paid $27 million in cash for LevTech to strengthen its position for single-use manufacturing applications in the biopharmaceutical market. Based in Lexington, KY, LevTech will be combined with ATMI’s existing LifeSciences business focused on single-use bioprocess containers and processes for the industry.
“We’ve supplied the semiconductor industry with ultrahigh purity single-use containers since 1987,” points out Mario Philips, gm of ATMI LifeSciences. “Since 1999, growing customer demand has led us to extend our expertise to the biopharmaceutical industry. This acquisition supports our strategy to become the global leader in comprehensive disposable systems for the biopharmaceutical industry with a broad range of disposable storage, mixing, and bioreactor technologies.”
Jeffery Craig, LevTech chairman, reports that, “LevTech has successfully developed mixing technologies to enable critical processes in the fast-emerging, single-use biopharmaceutical manufacturing market. We have secured a leading global position by providing our customers with validated and sustainable cost, capacity, contamination, and time-to-market advantages.
“Combining LevTech’s patent-protected biomanufacturing products with ATMI’s ultraclean technology experience, single-use container manufacturing capacity, and global infrastructure will create what we believe will be the worldwide market leader in the single-use bioprocessing arena.”
This deal is anticipated to be accretive by late 2008, according to Tim Carlson, ATMI CFO. Slight near-term EPS dilution of $0.01 to $0.02 per quarter is also expected, he adds.