Corning Completes Acquisition of Plaslab S.A.S.
CORNING, N.Y., – Corning Incorporated (NYSE: GLW) announced today that it has completed the previously announced acquisition of all outstanding shares of Plaslab S.A.S. from certain investment funds managed by Qualium Investissement and from the other shareholders of Plaslab. Plaslab is the holding company of Plastiques Gosselin.
Headquartered in Borre, France, Plastiques Gosselin is a leading manufacturer and distributor of high-quality plastic consumable labware in Europe. The business will be integrated into Corning’s Life Sciences segment, with Jean Gosselin remaining as President of Plaslab and Plastiques Gosselin.
Plastiques Gosselin’s wide array of sampling, testing, and analysis products (including Petri dishes, bottles, containers, tubes, bags, and accessories) complement the general labware, cell culture, lab equipment, and HTS/Assay products offered by Corning. The acquisition also furthers Corning’s strategy to continue to improve its strategic balance by strengthening its Life Sciences segment.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
About Corning Incorporated
Corning Incorporated (www.corning.com) is the world leader in specialty glass and ceramics. Drawing on more than 150 years of materials science and process engineering knowledge, Corning creates and makes keystone components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications and life sciences. Our products include glass substrates for LCD televisions, computer monitors and laptops; ceramic substrates and filters for mobile emission control systems; optical fiber, cable, hardware & equipment for telecommunications networks; optical biosensors for drug discovery; and other advanced optics and specialty glass solutions for a number of industries including semiconductor, aerospace, defense, astronomy and metrology.
About Plaslab S.A.S.
Plaslab S.A.S. is the holding company of Plastiques Gosselin S.A.S. Plastiques Gosselin is a leading manufacturer and distributor of high quality plastic consumable labware in Europe. Founded in 1965, the company employs over 300 associates serving pharmaceutical, academic, and industrial customers in microbiology, food testing, water testing and clinical markets across Europe from its headquarters and manufacturing facility in Borre, France and its manufacturing facility in the United Kingdom. The company also has a sales and logistics office in the U.S. More information about Plastiques Gosselin can be found at www.gosselin.eu.
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