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Neogen Buys Centrus

Neogen Corporation has acquired Centrus International, Inc., from Eastman Chemical Company, Centrus produces the Soleris™ system. The Soleris system is a rapid optical system for the detection of microbial contamination based on an innovative application of classic microbiology. The optical assay measures microbial growth by monitoring pH and other biochemical reactions that generate a color change as microorganisms grow and metabolize.

Centrus will continue to operate in its current facilities in Ann Arbor, Mich., and its other operations will be integrated into those facilities. Centrus recorded sales of Soleris products of approximately $2.8 million in its fiscal year ended Dec. 31, 2005.

The sales and marketing of the Soleris system will be shared worldwide by Neogen’s Food Safety Division, and a proven distributor of Centrus products, Denmark-based Foss Analytical. Neogen plans to continue the strong partnership developed between Centrus and Foss that has led to the widespread acceptance of the Soleris technology. For approximately six years, Foss has marketed the Soleris technology worldwide as its MicroFoss™ system, primarily to the meat and dairy industries. Going forward, Foss will retain its distribution rights to the meat and dairy industries in many countries. Neogen’s domestic and international sales groups will target markets, and regions of the world, not covered in the Foss agreement.

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Source : Neogen Corp. View Company Information

Posted on February 27, 2006