MILFORD, Mass.--(BUSINESS WIRE)--Jan. 16, 2003--Waters Corporation (NYSE: WAT) today announced that it has completed the purchase of the worldwide rheology business and net assets of Rheometric Scientific, Inc. (AMEX: RHM) for $17 million in cash and the assumption of $6 million in liabilities. Waters has merged the acquired business into its TA Instruments Inc. (New Castle, DE) operation.
Rheometric Scientific had maintained a strong position in controlled strain rheometers. These instruments are complementary to the controlled-stress equipment currently offered by TA Instruments. The acquired product lines are expected to add approximately $20 million in annual sales to TA Instruments' sales.
Waters Corporation holds worldwide leading positions in three complementary analytical technologies - high performance liquid chromatography (HPLC), mass spectrometry (MS) and thermal analysis (TA). These markets account for $4.2 billion of the overall $19 billion analytical instrumentation market. For further information about Waters Corporation, please visit the Company's web site at www.waters.info.
Certain statements contained herein are forward looking. Many factors could cause actual results to differ from these statements, including delays in product introductions, loss of market share through competition, introduction of competing products by other companies, pressures on prices from competitors and/or customers, regulatory obstacles to new product introductions, lack of acceptance of new products, changes in the healthcare market and the pharmaceutical industry, changes in distribution of the Company's products, and foreign exchange fluctuations. Such factors are discussed in detail in the Company's filings with the Securities and Exchange Commission.