RAISIO SELLS ITS DIAGNOSTICS BUSINESS TO BIOCONTROL
Raisio plc Stock exchange release 3 September 2007
RAISIO SELLS ITS DIAGNOSTICS BUSINESS TO BIOCONTROL
Raisio has on 3 September 2007 signed agreements on selling its diagnostics
business to BioControl Systems Inc. The transaction involves all the Diagnostics
group companies. As a result of the transaction, Raisio will recognise a capital
loss of approximately EUR 2 million, including sales-related expenses. The final
closing is expected to take place within a couple of days.
BioControl Systems Inc. is a US company based in Bellevue, WA. The company is a
recognized leader in the development of innovative microbiological tests for the
food industry since 1985. BioControl offers an extensive line of proprietary,
rapid tests for pathogen detection, quality control, and hygiene monitoring.
Raisio's diagnostics business develops, produces and markets diagnostics tests
and analytic systems used to monitor the safety and quality of food and animal
feed. Raisio Diagnostics employs 70 people in seven countries. The company's
turnover is approximately EUR 9 million.
Raisio's CEO Matti Rihko says: “The divestment of the diagnostics business is a
significant step towards Raisio's goal to streamline and enhance its operations.
I appreciate that the buyer is an important player in the field and is able to
expand the strong foundation of Raisio's existing diagnostics business and to
commercialize its patents and new technologies.”
RAISIO PLC
Heidi Hirvonen
Communication Manager
tel. +358 50 567 3060
Further information:
CEO Matti Rihko, tel. +358 2 443 2716 and +358 400 830 727
Distribution:
Helsinki Stock Exchange
Key media
www.raisio.com