Chemel initiates acquisition of distribution channel by gyh13356

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									Chemel initiates acquisition
of distribution channel



Press release 2008-12-01
Chemel AB (publ) has 01/12/2008 signed a conditional agreement where the com-
pany acquires 100 % of the shares in Biotech-IgG A/S, a Danish distribution com-
pany of LifeScience and BioTech products. The acquisition is conditional, among
other things on a positive result of the new share issuing that Chemel plans to carry
out in January 2009. The purchase sum will be 890
000 shares of series B in Chemel AB and a part
based on a royalty up to a maximum limit of 1 MSEK.

Biotech-IgG A/S, including the both daugther com-
panies Biotech-IgG Ltd (UK) (wholly-owned by Bio-
tech-IgG A/S) and Raytest Nordic AB (SE) (49 % of
the shares are owned by Biotech-IgG A/S and 51
% of the shares are owned by Raytest Schweiz AG
(CH)), below together called Biotech-IgG Group,
work with distribution of products for LifeScience
and BioTech applications to customers within health-
care, universities, research institutes and industries.
The target customers are mainly based in the Nordic countries, but also in oth-
                                                                                        Chemels President
er EU-countries. Biotech-IgG Group has shown yearly revenues between 9-27               Margareta Krook och
MSEK the last four-year period.                                                         Biotech-IgG A/S
                                                                                        President
                                                                                        Alistair Hurst
Chemel AB works with development and sales of biochemical analysis systems.
These systems are intended for fast and simple laboratory analysis of glucose,
vitamin C etc, and consist of instrument, validated reagent kits, service and
software. The first product is for measurement of glucose in different types of
bioprocesses (fermentations, cell cultivation, bioethanol production etc). As re-
ported earlier, Chemel intends to focus its further development on automatic
immunoassay systems for analysis of medically and industrially interesting pro-
teins.

”I see the acquisition of Biotech-IgG as a positive development for both compa-
nies. Chemels market position will be strengthened by the extensive sales expe-
rience of Biotech-IgG – Biotech-IgG will benefit from Chemels abililty to create
innovative technical solutions and products”, says the President of Biotech-IgGs,
Mr Alistair Hurst.

”The acquisition will bring the piece of puzzle that Chemel has been lacking
for so long, i.e. an experienced and effective sales and marketing organisation.
Chemels present products for laboratory analysis in bioprocess and food applica-
tion fit very well in the range of products sold by the Biotech-IgG Group. Through
Chemels extensive contact network within scientific and industrial organisations,
I see great possibilities to extend the future Chemel corporation customer base
and product range. We will also look at possibilities to extend the range of sup-
plier partners”, says the President of Chemel Dr Margareta Krook.
                                                                                        Chemel AB
                                                                                        Scheelevägen 19F:2
President and contact person: Dr Margareta Krook                                        223 70 LUND
Chairman of the board: Ass Prof Dario Kriz                                              tel +46 (0)46-286 45 00
                                                                                        fax +46 (0)46-286 45 45
                                                                                        Web: www.chemel.com
                                                                                        mail: info@chemel.com

								
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