IMO-As I saw once before, being a former TMO shareholder. I'm sure the focus, will be adding to existing business lines also. This company went on an acquisition tear many years ago. To take advantage of a good stock market,raise capital,give enhanced value to diverse individual units. They sold, and spun off partial stakes. When the market turned bad, they bought some back at big discounts. Now in present market conditions, were back to the thinking the whole (consolidating units) is better than operating separate pieces. Focusing on you main business, being bigger, offering broader product lines, is now in back in fashion here. Personally I like the Name New Brunswick Scientific as a common brand name . Did you here that AOT & FSH. Do you want to play follow the leader?
Company's "One Thermo" Strategy at Pittcon 2002
WALTHAM, Mass. and NEW ORLEANS, March 18 /PRNewswire-FirstCall/-- Thermo Electron (NYSE: TMO - news), a leading provider of technology-based instruments, components, and systems, today highlighted the successes of the company's ``One Thermo'' strategy at the 2002 Pittsburgh Conference (Pittcon) in New Orleans, the foremost laboratory science tradeshow show in the world, with more than 30,000 attendees from 120 countries.
``One Thermo'', which was launched at last year's Pittcon, aims to unify all of Thermo Electron's individual business units into one operating company under a common brand. Richard F. Syron, Thermo Electron chairman and CEO, outlined the benefits of the company's reorganization for customers and shareholders, and also cited some of the success stories at a press conference today.
As part of his presentation, Mr. Syron cited three main operating advantages for customers of the unified Thermo Electron:
Better, more advanced products, technologies, and integrated systems
More efficient sales processes
More comprehensive and simpler customer support
``The 'One Thermo' initiative has made significant progress in driving results for Thermo's customers,'' said Mr. Syron. ``The synergies that already existed between Thermo business units, many of which have been market leaders for several years, are now being brought to the forefront of the industry. With 12,000 technology specialists coming together to form one, efficient organization, the whole of Thermo Electron is certainly greater than the sum of its parts.''
According to Mr. Syron, business units are working together to provide better products, services, and integrated systems to meet the needs of customers. For instance, Thermo LabSystems, Thermo Nicolet, Thermo Galactic, Thermo Finnigan, and Thermo Spectronic have teamed to integrate eRecordManager(TM), a software system for the archival and management of more than 150 spectroscopy and chromatography style formats, with a variety of other products, including desktop spectroscopy software.
In addition, Thermo Nicolet and Thermo Labsystems have also combined their expertise in molecular spectroscopy and Microtiter® plate technology to provide customers with a fully automated Raman screening system.
``These types of collaborations are the future of Thermo Electron and they are driving our growth in important markets like pharmaceuticals and biotech,'' Mr. Syron added.
Speaking to the shareholder benefits of the ``One Thermo'' strategy, Mr. Syron commented on the internal efficiencies of the new operating structure as well as revenue growth opportunities from the company's ability to cross-sell its innovative solutions under the Thermo brand name. ``As the initial portion of the Thermo Electron restructuring focused on transforming the financial and administrative side of the company. We are now translating that foundation into expanded customer relationships and increased shareholder value.''
One example that typifies the intersection of ``One Thermo's'' benefits to both the company and its customers is CarePlan, which Mr. Syron also announced at the Pittcon press conference. CarePlan merges the four service forces of the company's spectroscopy businesses, putting dedicated service resources closer to customers, while consolidating Thermo Electron's parts and consumables supply and repair center in Madison, Wisconsin. It also facilitates shared best practices in inventory management and provides a larger service capability that extends the life of Thermo products.
Thermo Electron also offered a first look at its Pittcon 2002 exhibit booth during the press conference. The booth includes products and displays from 25 Thermo business units. ``The Thermo Electron booth represents the unified 'One Thermo.' The booth, like Thermo Electron, is a dynamic and comprehensive source for the best and broadest life science, measurement and control, and optical technology solutions on the market today, and they are all available in one location,'' Mr. Syron said.
About Thermo Electron Corporation:
Thermo Electron Corporation is a global leader in providing technology- based instruments, components, and systems that offer total solutions for markets ranging from life sciences to telecommunications to food, drug, and beverage production. The company's powerful technologies help researchers sift through data to make discoveries that will fight disease or prolong life. They allow manufacturers to fabricate critical components required to increase the speed and quality of communications. And they automatically monitor and control online production to ensure that quality standards are met safely and efficiently. Thermo Electron, based in Waltham, Massachusetts, reported $2.2 billion in revenues in 2001 and employs approximately 12,000 people worldwide. For more information on Thermo Electron, visit thermo.com.
The following constitutes a ``Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward- looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth under the heading ``Risk Factors'' in the company's Annual Report on Form 10-K for the fiscal year ended December 29, 2001. These include risks and uncertainties relating to: integration of the company's instrument businesses, implementation of the company's strategies for improving internal growth, the company's guarantee of obligations of a subsidiary that was spun off, the effect of exchange rate fluctuations on international operations, potential impairment of goodwill, the need to develop new products and adapt to significant technological change, dependence on customers that operate in cyclical industries, the effect of changes in governmental regulations, and dependence on customers' capital spending policies and government funding policies. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Media Contact Information:
Thermo Electron
Caroline Grossman
Phone: 781-622-1279
E-mail: cgrossman@thermo.com
SOURCE: Thermo Electron |
