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Biotech / Medical : SAFESKIN -- Ignore unavailable to you. Want to Upgrade?

To: Madpinto who wrote (204)	2/23/1998 4:47:00 PM
From: Apple12	Read Replies (1) \| Respond to of 828

Hows this for starters! Safeskin Expands Scientific Glove Business with Acquisition of AQL, Inc. Acquisition Strengthens Safeskin's Position Within The High-Technology/Scientific Market February 23, 1998 07:56 AM SAN DIEGO, Feb. 23 /PRNewswire/ -- Safeskin Corporation SFSK , a leading developer and manufacturer of high-quality, powder-free, disposable latex and synthetic gloves for the healthcare, high-technology/scientific, and consumer markets, today announced that it has completed the acquisition of Absolute Quality Leadership, Inc., (AQL). AQL is a California-based marketer of glove products for the high-technology/scientific market. Safeskin estimates the total value of this market to be over $420 million annually. Terms of the acquisition were not disclosed. The acquisition is expected to be accretive, with a positive impact on Safeskin's earnings in fiscal 1998. AQL markets a broad line of proprietary latex and synthetic (nitrile, vinyl, and co-polymer) glove products, specifically designed for the microelectronics (semiconductor and disk drive), health technologies (pharmaceutical, medical device, and biotechnology), and general laboratory and safety market segments. Products are marketed under the CertiClean, MicroGrip, NXT, and VeriSafe trade names and are distributed primarily through VWR Scientific, the largest distributor of high-technology/scientific gloves in the United States. "The acquisition of AQL and its solid reputation for quality within this market, provides synergies for Safeskin's high-margin scientific glove business," said Richard Jaffe, Chairman, President and Chief Executive Officer of Safeskin. "The combined AQL/Safeskin business unit will have greater product depth and management focus under the stewardship of Rob Hatch, founder of AQL. We look forward to Rob's leadership to help us achieve our aggressive sales targets for this market." "AQL brings a well-defined and dedicated expertise in process manufacturing technology, marketing and sales related to scientific products," said Rob Hatch, President of AQL, Inc. "With our strong brand recognition at the customer level and Safeskin's commitment to this market, we have a formidable team." Safeskin Corporation is the leading manufacturer of high quality disposable latex medical examination gloves for the United States market and believes that it is the world's leading manufacturer of high quality disposable latex powder-free examination gloves for the medical, dental, high- technology and scientific markets. The Company produces gloves at its manufacturing facilities in Southeast Asia using proprietary formulations and processes