Saw these the last few days:
LONDON, Sept 1 (Reuters) - Biotrace International <BOI.L>, a maker of equipment for hygiene and microbiological testing of food and drink, said on Thursday it had appointed 11 distributors in Europe and one for North America.
Neogen Corporation <NEOG.O>, a specialist in diagnostic products in the food and animal safety sectors, will distribute Biotrace products in the U.S. and Canada.
This deal follows split in partnership with Ecolab Inc <ECL.N> earlier this year, which has been settled amicably without any termination payments.
Biotrace's shares were unchanged at 46 pence at 1525 GMT. ((Arindam Nag, London newsroom +44 171 542 4017, fax 44 171 583 3769, uk.equities.news@reuters.com))
09/01 11:25 Neogen Named Exclusive Sanitation Testing System Supplier NEOG.O>
Neogen Named Exclusive Sanitation Testing System Supplier
LANSING, Mich., Sept. 1 /PRNewswire/ -- Neogen Corporation (Nasdaq: NEOG) announced today that it has entered into an agreement to become the exclusive distributor of Biotrace rapid sanitation testing systems for the North American food and beverage market.
Biotrace International, Plc., is considered the global leader in this market with its Uni-Lite(R) XCEL, Clean-Trace(TM) and Aqua-Trace(TM) products. Biotrace products are used by 19 of the
world's top 20 food and beverage companies. This agreement allows Biotrace to merge a significant portion of its product management and technical support with Neogen's existing organization.
Neogen manufactures and markets a wide range of diagnostic products used in the food and animal safety markets. Whereas most of these tests are used to detect specific substances, Biotrace products allow users to rapidly determine if surfaces have been properly cleaned, and the hygienic quality of water samples.
"We believe Biotrace is the clear market leader in this area and its products will continue to change contemporary risk management hygiene monitoring," said James Herbert, Neogen's president. "The
addition of this ATP-based testing system to Neogen's already extensive group of food safety diagnostic products strengthens our company's position as the strongest one- stop shop for food safety solutions."
"We pride ourselves in offering the best range of rapid hygiene testing systems, and have continually looked for ways to provide better service and technical support to the food and beverage industry," said Ian Johnson, Biotrace's chief executive officer. "Neogen's experience, knowledge, and outstanding organization should enable us to continue to strengthen our programs in the important U.S. and Canadian markets."
Neogen's worldwide customer base in food safety diagnostics has grown rapidly, and adding Biotrace's North American customer base further enhances Neogen's strong presence. Existing Biotrace customers include 30 of the top 50 food and beverage companies in the U.S. and Canada. Biotrace currently has several hundred systems in operations around North America, and has enjoyed significant sales growth each year since the product's introduction. Industry estimates place the U.S. and Canadian sanitation testing market at approximately $50 million annually.
The technology of the Uni-Lite XCEL is based on the measurement of adenosine triphosphate (ATP), a chemical found in all living cells. When combined with luciferase, an enzyme found in fireflies, ATP emits light proportional to the amount of ATP present. Uni-Lite measures the light emitted, and in only seconds, provides a quantitative measurement of just how clean a surface or water is. A rapid, accurate measure of sanitation is especially critical as food industries seek to comply with new FDA and USDA regulations required by the Hazard Analysis and Critical Control Points (HACCP) program.
[... usual FLS]
08/31 11:52 Neogen Settles Ecolab Lawsuit <NEOG.O>
Neogen Settles Ecolab Lawsuit
LANSING, Mich., Aug. 31 /PRNewswire/ -- Neogen Corporation (Nasdaq: NEOG) announced today that it has entered into a general release and settlement agreement of a lawsuit filed on April 22, 1999 by Ecolab, Inc.
In the lawsuit, Ecolab alleged that Biotrace, Inc. breached a contract between the two companies, and that Neogen tortuously interfered with that agreement. The dismissal with prejudice of the
action was between all parties and without cost to Neogen.
The earlier agreement between Biotrace and Ecolab was immediately terminated.
"We announced in April that Neogen was confident that its relationship with Biotrace was perfectly lawful, and that the business activities between the two companies had been proper," said James Herbert, Neogen's president. "However, we are very pleased to have the litigation settled, and look forward to exploring the continued opportunities between Neogen and Biotrace in North America."
[...usual FLS]
Any comments on the effect of these things to the bottom line?
The total market is only $50M, so we're not talking about a doubling of revenue. On the other hand, if Biotrace is a major supplier within this market, we could be talking comission on the order of $1-2M/year, with an additon to the bottom line of a few hundred thousand. Any disagreements? (that was a back of the yellow sticky calculation).
If I had some extra coin, I'd probably be buying more in here.
Cheers,
Rich |
