Thermo Fisher and Gerresheimer to Form Joint Venture Creating Glass Labware Business
Thermo Fisher will own 49% of the newly formed Kimble/Chase Life Scienceware.!--h2>
Thermo Fisher Scientific and the Gerresheimer Group formed a joint venture that will manufacture disposable and reusable glass labware for scientific laboratories. The new entity, called Kimble/Chase Life Scienceware, will be based in New Jersey, with additional operations in the U.S., Germany, Mexico, and China.
"This joint venture will reshape the glass consumables marketplace," remarks Guy Broadbent, senior vp and president of laboratory products for Thermo Fisher Scientific. "The combination of well-known glass labware brands from Thermo Fisher and Gerresheimer will form a leading supplier with an extensive product portfolio and a global footprint. With its significant production capabilities in China, the new business will be able to more effectively deliver its products to customers in that growing market as well as other parts of the world."
Under the agreement, Thermo Fisher will own 49% of the joint venture. It will contribute its Chase Scientific, Scherf, and Pfeiffer glassware lines, which generated approximately $55 million of revenue in 2006 and are manufactured in the U.S. and Germany, according to the company. Gerresheimer contributes its life science research products, including certain Kimble, Kontes, and Bomex brands, which generated approximately $68 million of 2006 revenue and are manufactured in the U.S., Mexico, and China, Thermo Fisher adds.