10 apr: Novo Nordisk ejer fortsat 4,7 pct. egne aktier
10 apr: Europa/aktier: Banker og mineaktier trækker ned
10-04-2012 14:45:00

Corning To Buy Bulk Of Becton Dickinson's Lab Products Unit For $730 Million In Cash

Relateret indhold

DOW JONES NEWSWIRES

Corning Inc. (GLW) plans to pay roughly $730 million in cash to acquire the bulk of Becton Dickinson & Co.'s (BDX) lab products business, snapping up a portfolio it said will significantly increase its presence in the life-sciences market.

With sales of roughly $235 million expected this year, Corning Chief Executive Wendell P. Weeks said the Discovery Labware unit will expand Corning's annual life-sciences revenue by 40% and move it closer to its goal of being a $1 billion business by 2014.

"The Discovery Labware unit's extensive product portfolio and established dealer network will significantly improve Corning Life Sciences' offerings to customers and is a critical part of Corning's long-term growth strategy," Weeks said.

The purchase, seen closing later this year, excludes the unit's advanced bioprocessing platform. It is expected to begin adding to Corning's earnings in 2013.

"Life Sciences is an attractive growth industry and has low capital intensity. We expect this acquisition to provide a stable stream of incremental cash flow to Corning as we become a more balanced company," said Corning Chief Financial Officer James B. Flaws.

Corning, the world's largest maker of liquid-crystal-display glass for TVs has been struggling recently as lackluster television demand has created a massive headwind for electronics retailers, set manufacturers and suppliers like Corning. The company in January reported its fourth-quarter profit slumped 53% and said it plans to cut capacity in its LCD glass business, as weak demand is leading to "significant" price declines.

Corning shares were recently up 10 cents to $13.58 in premarket trading. Shares of Becton Dickinson were also trading slightly higher at $77.25.

-By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com

(END) Dow Jones Newswires

April 10, 2012 08:45 ET (12:45 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Aarsleff/CEO: Udskudte projekter øger salgsomkostningerne

30-08-2016 16:42:22
Indtjeningen i entreprenørkoncernen Aarsleff var i tredje kvartal 2015/16 presset af en stigning i salgsomkostningerne i selskabet.Og det skyldes både en svag p..

Widex/CEO: Stolt over at nå indtjeningsmål et år før tid - NY

30-08-2016 14:26:19
Den privatejede høreapparatvirksomhed Widex leverede flotte tal for både toplinjen og driften i sit årsregnskab for 2015/16, der blev præsenteret tirsdag morgen..

Vestas' gigaprojekt i USA får grønt lys af myndighederne

30-08-2016 09:52:22
Vestas' potentielle gigaordre på op til 2000 megawatt (MW) i USA er rykket et skridt nærmere.Myndighederne i staten Iowa har netop godkendt planerne for det såk..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Vestas/HSBC: Kursmålet løftes næsten 13 pct.
2
Vestas' gigaprojekt i USA får grønt lys af myndighederne
3
Mærsk: Containerrival styrtdykker på børsen i Seoul
4
Aktier/tendens: Udsigt til lav omsætning med lille pil op
5
Brøndby IF Q2: Underskuddet vokser i takt med færre på stadion

Relaterede aktiekurser

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2016  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
31. august 2016 02:26:54
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20160826.1 - EUROWEB6 - 2016-08-31 02:26:54 - 2016-08-31 02:26:54 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x