PerkinElmer Acquires Shanghai Spectrum Instruments Co., Ltd.
- Expands Analytical Instruments Offerings to Help Customers in China and Other Emerging Markets Access Environmental and Food Safety Testing Solutions
- Opens New Market Opportunities via SSI’s Supply Chain and Dealer Networks throughout Region
- Broadens R&D Capabilities in Atomic Absorption
SHANGHAI--(BUSINESS WIRE)--PerkinElmer, Inc., a global leader committed to innovating for a healthier world, today announced that it has acquired Shanghai Spectrum Instruments Co., Ltd. (SSI). Located at Shanghai Caohejing Hi-Tech Park in P.R. China, SSI is one of the leading manufacturers of analytical instruments in China.
“PerkinElmer is committed to expanding our investment and manufacturing footprint in China. This acquisition helps us build upon our China presence through SSI’s strong, localized market position while further solidifying PerkinElmer’s leadership in Atomic Absorption technologies”
SSI delivers analytical solutions and services to a wide range of research, academic, government, pharmaceutical, industrial, life sciences and chemical analysis laboratories. Its portfolio includes photoelectric colorimeters, UV-Vis spectrophotometers, atomic absorption spectrophotometers and accessories.
“PerkinElmer is committed to expanding our investment and manufacturing footprint in China. This acquisition helps us build upon our China presence through SSI’s strong, localized market position while further solidifying PerkinElmer’s leadership in Atomic Absorption technologies,” said Jim Corbett, Executive Vice President and President, Discovery & Analytical Solutions, PerkinElmer. “The combination of instrumentation and synergistic commercial activities will enable us to deliver high quality analytical testing to a wider customer base throughout China and other emerging market regions.”
SSI has customers in 10 countries, along with a strong supply chain and dealer network in China.
PerkinElmer plans to build on SSI’s R&D and manufacturing capabilities in China to deliver continuous hardware and software innovations for its customers and support China’s goal of strengthening local manufacturing. This acquisition complements PerkinElmer’s leadership in atomic spectroscopy to better serve local customer needs within environmental, industrial and food markets.
About PerkinElmer, Inc.
PerkinElmer, Inc. is a global leader focused on innovating for a healthier world. The Company reported revenue of approximately $2.3 billion in 2017, has about 11,000 employees serving customers in more than 150 countries, and is a component of the S&P 500 Index. Additional information is available through 1-877-PKI-NYSE, or at www.perkinelmer.com.
Factors Affecting Future Performance
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities, acquisitions and divestitures. Words such as "believes," "intends," "anticipates," "plans," "expects," "projects," "forecasts," "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) markets into which we sell our products declining or not growing as anticipated; (2) fluctuations in the global economic and political environments; (3) our failure to introduce new products in a timely manner; (4) our ability to execute acquisitions and license technologies, or to successfully integrate acquired businesses such as EUROIMMUN and licensed technologies into our existing business or to make them profitable, or successfully divest businesses; (5) our failure to adequately protect our intellectual property; (6) the loss of any of our licenses or licensed rights; (7) our ability to compete effectively; (8) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (9) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (10) disruptions in the supply of raw materials and supplies; (11) the manufacture and sale of products exposing us to product liability claims; (12) our failure to maintain compliance with applicable government regulations; (13) regulatory changes; (14) our failure to comply with healthcare industry regulations; (15) economic, political and other risks associated with foreign operations; (16) our ability to retain key personnel; (17) significant disruption in our information technology systems; (18) our ability to obtain future financing; (19) restrictions in our credit agreements; (20) the United Kingdom’s intention to withdraw from the European Union; (21) our ability to realize the full value of our intangible assets; (22) significant fluctuations in our stock price; (23) reduction or elimination of dividends on our common stock; and (24) other factors which we describe under the caption "Risk Factors" in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.