Thermo Fisher and Gerresheimer Form $123 Million Glassware Joint Venture
The agreement will make the Thermo Fisher and Gerresheimer even more formidable competitors in the lab glassware market, whose other major providers include Corning and Schott. Gerresheimer gains access to Thermo Fisher’s distribution network and customer base. Thermo Fisher gains a manufacturing base in China. Last fall, Gerresheimer acquired 70% shares in two joint ventures with Chinese packaging company BGIF, giving it two Chinese facilities. At that time, Gerresheimer estimated 2006 revenues for BGIF at nearly €10 million ($12.5 million) and sales growth of more than 20% for the two companies. Gerresheimer also gained license rights to the Asian glassware brand Bomex.
Waltham, MA 3/20/07; Dusseldorf, Germany 3/20/07—Thermo Fisher Scientific and Gerresheimer have announced a joint venture to manufacture glass labware for scientific laboratories. Gerresheimer will hold a 51% in the joint venture, which will be named Kimble/Chase Life Scienceware and will be based in New Jersey. Kimble/Chase Life Scienceware will include Thermo Fisher Scientific’s Chase Scientific, Scherf and Pfeiffer glassware lines, which posted 2006 revenues of $55 million, and selected life science research products of Gerresheimer’s Kimble, Kontes and Bomex brands, which generated 2006 revenues of $68 million. The joint venture will employ approximately 1,500 people and have seven plants, including Gerresheimer plants in the US, Mexico and China and Thermo Fisher Scientific’s plants in the US and Germany. “This joint venture will reshape the glass consumables marketplace,” stated Guy Broadbent, senior vice president and president of Laboratory Products for Thermo Fisher Scientific. “ 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.” The companies have had a joint sale and marketing agreement since 2001.
