Millipore Acquires Remaining Stake in Indian Joint Venture

The Hindu Business Line reports that the stake in Millipore India was acquired from Subhash Bagaria, chairman and managing director of Kemwell, a contract manufacturing organization. Millipore also has offices in Ahmedabad, Hyderadbac, Kolkata, Mumbai and Delhi.

Billerica, MA 11/23/09—Millipore has acquired the remaining 60% ownership of its joint venture in India. Based in Bangalore, Millipore India is primarily a sales, service and manufacturing organization with approximately 300 employees. “By establishing direct operations in the country, we will be able to more effectively execute our strategy and leverage our unique capabilities to accelerate growth and support our growing customer base in this dynamic market,” commented Millipore Chairman and CEO Martin Madaus. The joint venture’s revenues are split between Millipore’s Bioprocess and Bioscience divisions. The purchase is expected to be accretive to Millipore’s EPS in future years.

< | >