Life Sciences company Biotrace has expanded its European distribution operations through the acquisition of a Danish supplier of specialist microbiology and life science products.
The acquisition of Copenhagen-based Maltec continues the group's strategy of gaining direct customer access in major geographies and strengthens the company's position in the Scandinavian market.Together with Biotrace's existing European sales subsidiaries, the group's products can be sold directly in the UK, France, Denmark, Sweden and Norway.
The Scandinavian market has assumed greater importance to the group due to the high concentration of pharmaceutical companies in the region as well as a large dairy industry.
"The group is making good progress in its plans to invest in direct customeraccess in major European markets and to leverage relationships with keycustomers," said Ian Johnson, chief executive of Biotrace.
"This strategy will enable Biotrace to expand the range of productsoffered, making the group a one stop shop for innovative microbiologyproducts.
"With respect to the first half of 2003, as expected, the group has experiencedstrong growth in sales and profits over the same period in 2002, through acombination of organic growth, acquisitions and increased defence sales.Management anticipate that the group's performance overall for the year remainsin line with expectations."
Maltec achieved sales of DK6.5 million (€0.87m) for the year ended 30 June 2002, and made a pre-tax profit of DK0.2 million. Maltec had approximate netliabilities of DK1.1 million at the date of acquisition.
Biotrace International is a leading manufacturer and supplier of rapidmicrobiology instrumentation and test reagents to food, industrial, healthcareand defence markets. Industrial customers include many of the world'slargest water treatment chemical multi-nationals.
Biotrace also supplies highly specialised products to pharmaceutical companies, hospitals, public health laboratories and medical research institutes for the detection of hazardous micro-organisms and diseases.