Hey all,
Been quiet lately. Here's a little news. Nothing earthshattering, but it is something.
mgd
Thursday April 10 6:12 PM EDT
Lukens Medical announces expansion in Brazil
ALBUQUERQUE, N.M.--(BW HealthWire)--April 10, 1997-- Lukens Medical Corp Thursday announced the signing of an
agreement to acquire a majority interest in Techsynt S.A., a suture manufacturer based in Sao Paulo, Brazil.
Lukens' investment will be primarily in the form of equipment and inventory. Techsynt will then expand its manufacturing
capabilities to include specialty sutures and Lukens new synthetic, absorbable PGA suture, and will market under the brand
name Techsynt-Lukens.
In making the announcement, Robert S. Huffstodt, president and chief executive officer of Lukens, stated, "This is the next
major step in the globalization of Lukens' business, and gives us a much stronger presence in the growing Brazilian and South
American markets, which we estimate already exceed $100 million."
Chairman John H. Robinson added, "I am pleased to see Lukens revenues and earnings continue at a record pace, and this
expansion in Brazil adds even more impetus to our progress."
Lukens Medical, with headquarters in Albuquerque, is a medical device company addressing global markets in sutures,
diagnostics and other disposable products.
NOTE: "Safe Harbor" Statement under the private Securities Litigation Reform Act of 1995: The statements which are not
historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not
limited to, the ability of the company to continue to obtain financing for its activities, the effect of economic conditions both
domestically and internationally, the impact of competition, the ability of joint venture partners and distributors to sell the
company's products, changes in customer preferences and trends and other risks detailed in the company's Securities and
Exchange Commission filings.
CONTACT: Lukens Medical Corp., Albuquerque
Robert S. Huffstodt, 505/342-9638
800/631-0076
505/342-9735 (fax) |
