Bosch intends to purchase minority share of Industrial Pharmaceutical Resources, Inc.
Strengthening the value chain
- IPR refurbishes, updates and provides control and automation products and inspection systems for pharmaceutical equipment
- Complements Bosch's Manesty tablet press and coater business
- IPR, Inc., has strong controls knowledge
FARMINGTON HILLS, Mich., Dec. 11, 2012 /PRNewswire/ -- Bosch Packaging Services, Inc., announced today that it intends to purchase a minority share of Industrial Pharmaceutical Resources, Inc., (IPR, Inc.) of Bartlett, Ill., which refurbishes, upgrades and manufactures control and automation products and inspection systems for pharmaceutical equipment, such as tablet presses. In 2011, with 23 associates, IPR, Inc., generated sales of approximately $12.4 million. The terms of the investment will remain private per the agreement of both parties. The transaction is subject to normal closing conditions, including regulatory approvals.
"Securing a minority share of Industrial Pharmaceutical Resources, Inc., will further strengthen our value chain and will provide a strong addition to our recent acquisition of Manesty Ltd., in the United Kingdom, and Huttlin, based in Schopfheim, Germany," said Gary Anderton, general manager, Bosch Packaging Services, Inc. In 2011, Bosch acquired Manesty Ltd., which specializes in the manufacture of tablet presses and tablet coating systems and Huttlin, which produces specialty drying and granulation equipment.
Enhanced support to customers
Already in 2007, IPR became the North American Service and approved OEM parts provider for Manesty Machines. "Working together, we expect to have cost synergies and our collective efforts will provide enhanced support to customers in the aftermarket sector," Anderton said.
The product and service portfolio of IPR includes equipment refurbishing to restore pre-owned machinery. The company also offers replacement parts and used equipment. In addition, IPR provides a wide range of control and automation products and services as well as tooling inspection and analysis systems.
According to Joseph Dougherty Jr., president of IPR, Inc., "Combining IPR's controls knowledge with Bosch's manufacturing knowledge of Manesty machines will provide further value for our customers, which is an objective that both companies share. We are pleased to formalize IPR's strong relationship with Bosch."
About Bosch:
Based in Waiblingen near Stuttgart, Germany, and employing 4,700 associates, the Bosch Packaging Technology division is one of the leading suppliers of process and packaging technology. At over 30 locations in more than 15 countries worldwide, a highly-qualified workforce develops and produces complete solutions for the pharmaceuticals, food, and confectionery industries. These solutions are complemented by a comprehensive after-sales service portfolio. A global service and sales network provides customers with local points of contact. Additional information is available online at www.boschpackaging.com .
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods and building technology, some 300,000 associates generated sales of 51.5 billion euros in fiscal 2011. The Bosch Group comprises Robert Bosch GmbH and its roughly 350 subsidiaries and regional companies in some 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spent some 4.2 billion euros for research and development in 2011, and applied for over 4,100 patents worldwide. With all its products and services, Bosch enhances the quality of life by providing solutions which are both innovative and beneficial. Additional information is available online at www.bosch.com , www.bosch-press.com .
SOURCE Bosch