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2007-09-03 09:00:04 CEST 2007-09-03 09:00:04 CEST REGULATED INFORMATION Raisio - Company AnnouncementRAISIO SELLS ITS DIAGNOSTICS BUSINESS TO BIOCONTROLRaisio plc Stock exchange release 3 September 2007 RAISIO SELLS ITS DIAGNOSTICS BUSINESS TO BIOCONTROL Raisio has on 3 September 2007 signed agreements on selling its diagnostics business to BioControl Systems Inc. The transaction involves all the Diagnostics group companies. As a result of the transaction, Raisio will recognise a capital loss of approximately EUR 2 million, including sales-related expenses. The final closing is expected to take place within a couple of days. BioControl Systems Inc. is a US company based in Bellevue, WA. The company is a recognized leader in the development of innovative microbiological tests for the food industry since 1985. BioControl offers an extensive line of proprietary, rapid tests for pathogen detection, quality control, and hygiene monitoring. Raisio's diagnostics business develops, produces and markets diagnostics tests and analytic systems used to monitor the safety and quality of food and animal feed. Raisio Diagnostics employs 70 people in seven countries. The company's turnover is approximately EUR 9 million. Raisio's CEO Matti Rihko says: “The divestment of the diagnostics business is a significant step towards Raisio's goal to streamline and enhance its operations. I appreciate that the buyer is an important player in the field and is able to expand the strong foundation of Raisio's existing diagnostics business and to commercialize its patents and new technologies.” RAISIO PLC Heidi Hirvonen Communication Manager tel. +358 50 567 3060 Further information: CEO Matti Rihko, tel. +358 2 443 2716 and +358 400 830 727 Distribution: Helsinki Stock Exchange Key media www.raisio.com |
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