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Akzo Nobel Transfers Organon Teknika's Diagnostics Business to bioMerieux
ARNHEM, the Netherlands--July 3, 2001--Akzo Nobel, the international pharmaceuticals, coatings and chemicals group, has transferred Organon Teknika's in vitro diagnostics business to bioMerieux. In certain countries, however, the transfer will only come into force as soon as merger-control clearance has been obtained. bioMerieux will pay Akzo Nobel EUR 311 million for the diagnostics business on a cash and debt-free basis. As per July 1, the diagnostics activities will be consolidated into bioMerieux.
The sale to bioMerieux completes initiatives to combine Organon Teknika's diagnostics business with a partner that would be able to enhance the position of Organon Teknika's innovative diagnostic products in a strongly consolidating diagnostics market and provide a solid basis for the future of the business and its employees. This transaction is one of several recent moves by Akzo Nobel to realize its Pharma strategy of growing businesses strongly focused on human pharmaceuticals, animal healthcare and biopharmaceutical production. The pharmaceutical activities of Organon Teknika have been transferred to Organon, the Pharma Group's human pharmaceuticals business. Note for the editor Organon Teknika was a business unit of Akzo Nobel. Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2000 totaled EUR 14 billion (USD 13 billion, GBP 8.5 billion). The Company currently employs 68,800 people in more than 75 countries. Financial results for the second quarter of 2001 will be announced on July 25, 2001. bioMerieux is the in vitro diagnostics branch of the French healthcare group bioMerieux-Pierre Fabre. bioMerieux's products are used for medical diagnosis, but also for quality control of food, cosmetics and therapeutics, and for environmental testing. In 2000 bioMerieux's sales were approximately EUR 592 million (FRF 3.9 billion), making it the eighth largest in vitro diagnostics company in the world. Internet: http://www.akzonobel.com http://www.biomerieux.fr
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