Zenon to acquire two German companies
Zenon Environmental, through a wholly owned German subsidiary, has agreed unconditionally to acquire all the shares of each of Dresden-based Alpha Plan GmbH and Saxonia BioTec GmbH. Scheduled to close at year-end 2005, the purchase price will collectively be a maximum of US$13.27 million...
OAKVILLE, ON, Canada, Feb. 28, 2005 (PRNewswire-FirstCall) -- Zenon Environmental, through a wholly owned German subsidiary, has agreed unconditionally to acquire all the shares of each of Dresden-based Alpha Plan GmbH and Saxonia BioTec GmbH. Scheduled to close at year-end 2005, the purchase price will collectively be a maximum of EUR 10,000,000 [US$13.27 million].
Alpha Plan, a private company in the business of producing membrane-processing equipment for over 10 years, is considered one of the leaders in this field. Saxonia BioTec, also a private company, specializes in the development of hollow fibres and production of disposable cartridges and system assembly for filtration and bioprocessing.
The purchase of both these companies will further enhance Zenon's manufacturing processes as the company continues toward its goal of reducing costs in an increasingly competitive marketplace.
"We see these acquisitions as a complement to our ongoing research in technology and product development," said Andrew Benedek, Chairman and CEO of Zenon. "The value proposition for us is cost reduction in our current operations as well as the capacity to expand into new product lines."
Alpha Plan and Saxonia BioTec will continue to actively support their medical and biotech products, while Zenon's business will serve to complement their existing operations.
A publicly traded company, Zenon (www.zenon.com) is a worldwide provider of advanced membrane products and services for water purification, wastewater treatment and water reuse to municipalities and industries. In 2004, Corporate Knights, a business publication addressing corporate responsibility, ranked Zenon Environmental Canada's top Corporate Citizen, for the second time. Canada's Top 100 Employers ranked Zenon in their top 100 list for the last five years.