Richard W. K. Chapman (ThermoQuest Corporation (AMEX: TMQ))

Chapman, Richard W. K. (Thermo Electron 199610 CEO of ThermoQuest Corp)

	Organisation	ThermoQuest Corporation (AMEX: TMQ)
	Today	Thermo Fisher Scientific Inc. (NYSE: TMO)
	Group	Thermo Fisher (Group)
	Product	analytical instrument
	Product 2	mass spectrometer

Thermo Electron Corporation. (10/9/96). "Press Release: ThermoQuest Corporation Acquires Two Businesses from Parent". Waltham, MA.

ThermoQuest Corporation (AMEX: TMQ) announced today that it has purchased CE Instruments and MassLab Instruments from its parent, Thermo Instrument Systems Inc. (AMEX: THI). ThermoQuest will pay Thermo Instrument $19.8 million for CE Instruments, a leading European manufacturer of gas chromatography instruments, and $6.6 million for MassLab, a manufacturer of mass spectrometry instruments. In addition, ThermoQuest will assume certain debts of the CE Instruments business totaling approximately $8.9 million. These businesses were originally part of the Scientific Instruments Division of Fisons plc, acquired by Thermo Instrument in March 1996.

CE Instruments, located near Milan, Italy, has a long history of technological innovation in gas chromatography. In 1956, CE Instruments produced the first commercial gas chromatograph manufactured in Europe. Today, the company's instruments have a reputation for premium performance as well as a leading market position in many European countries. CE Instruments' 1995 revenues were approximately $38 million.

MassLab Instruments (formerly VG MassLab), located near Manchester, England, manufactures a line of benchtop quadrupole mass spectrometers for both gas chromatography and liquid chromatography applications. MassLab products are well-regarded in the European and Asian analytical marketplace. MassLab's 1995 revenues were approximately $14 million, which included intercompany sales with CE Instruments of approximately $5.6 million. Intercompany sales in the future will be eliminated as part of the consolidation of these businesses with ThermoQuest.

"These acquisitions are a strong complement to our existing chromatography and mass spectrometry businesses," said Dr. Richard W.K. Chapman, president and chief executive officer of ThermoQuest. "CE Instruments has long been an innovator in the field of chromatography, and their operations give us a much stronger presence in key European markets. And the acquisition of MassLab Instruments, combined with our recent acquisitions of Automass and Extrel FT/MS, now allows ThermoQuest to offer the analytical community the broadest mass spectrometry product line in the industry."

ThermoQuest Corporation develops, manufactures, and sells mass spectrometers, liquid chromatographs, and gas chromatographs for the environmental, pharmaceutical, and industrial marketplaces. These analytical instruments are used in the quantitative and qualitative chemical analysis of organic and inorganic compounds at ultra-trace levels of detection. ThermoQuest is a public subsidiary of Thermo Instrument Systems Inc., a Thermo
Electron company.

CONTACT:
John N. Hatsopoulos of Thermo Electron,
617-622-1111

Record changed: 2011-11-25

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Richard W. K. Chapman (ThermoQuest Corporation (AMEX: TMQ))

Thermo Electron Corporation. (10/9/96). "Press Release: ThermoQuest Corporation Acquires Two Businesses from Parent". Waltham, MA.