Ceramic Industry News

Corning Acquires Axygen BioScience (posted 9/17/09)

September 17, 2009
/ Print / Reprints /
ShareMore
/ Text Size+
The acquisition supports Corning’s commitment to supply its customers with a comprehensive line of laboratory research products.

Corning Inc. recently announced that it has acquired all of the shares of Axygen BioScience, Inc. and its subsidiaries from American Capital Ltd. for approximately $400 million in cash. Headquartered in Union City, Calif., Axygen is a leading manufacturer and distributor of high-quality life sciences plastic consumable labware, liquid handling products, and bench-top laboratory equipment with operations in the U.S., France, Poland, and China. Axygen will be integrated into Corning’s Life Sciences segment.

The acquisition supports Corning’s ongoing commitment to supply its customers with a comprehensive and innovative line of laboratory research products. Axygen’s product portfolio of high-quality plastic consumables (including pipettes, pipette tips and high-throughput screening products) and lab equipment (including centrifuges, pipette controllers and incubators) expands on and complements the general labware, cell culture and HTS/assay products offered by Corning. In addition, the acquisition enhances Corning’s presence in Asia through Axygen’s two manufacturing locations and increases access to customers in the Asia region.

“Axygen’s product portfolio and established distribution network will significantly strengthen Corning’s life sciences platform and are critical components to our long-term growth strategy for this business,” said Peter F. Volanakis, Corning’s president and chief operating officer. “We believe this highly strategic acquisition offers synergies that will allow us to grow our life sciences business to more than $500 million in revenue by 2011.”

“We are looking forward to working with Axygen’s talented management team, whose leadership and vision have resulted in a set of brands recognized for quality and innovation by customers around the world,” said Mark A. Beck, senior vice president of Corning Life Sciences.

Hemant Gupta, Axygen’s founder, will remain with the business, serving as president and CEO, as will other key personnel of Axygen. “We are very excited to be joining the Corning organization,” said Gupta. “Corning is a world leader in bringing innovative scientific labware products to market, and we are looking forward to making major contributions to the continued success of this well-respected organization.”

Visit www.corning.com or www.axygen.com for more information.

Links

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

April 2014 Issue Highlights

Our April 2014 issue is now available!

Podcasts

Sapphire: An Extreme Performer

Ian Doggett of Goodfellow and CI Editor Susan Sutton discuss the benefits and opportunities provided by industrial sapphire.

More Podcasts

Ceramic Industry Magazine

CI July 2014

2014 July

Our annual Data Book & Buyers' Guide is your best resource for suppliers of materials and equipment for the ceramic, glass, brick and related industries. Check it out!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px