Metrisa Assests Sold to Galvanic Applied Sciences

Calgary, Canada 6/25/03 and 7/7/03-Galvanic Applied Sciences has purchased Metrisa’s property and assets for approximately $2.5 million and a two-year earn-out provision. The purchase includes Metrisa’s manufacturing business (working capital of approximately $875,000), R&D, intellectual property rights and Metrisa and Metrisa GmbH product distribution rights. Metrisa develops and markets instruments for measuring properties of certain liquids and gases for process analytical and environmental monitoring applications. Sales have been $5 million to $6 million historically, with a gross margin of 50% to 55%.

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