As drugmakers and biotechnology companies expand in emerging markets in Asia and elsewhere, suppliers see expansions in those markets as key. With its acquisition of Lymtech Scientific, U.K.-based Filtrona expects not only to clean up in new portions of the wiping materials markets, but also to tap growth in Asia and Europe.
Filtrona, which has 4,000 employees worldwide and 34 principal manufacturing facilities, makes custom fluid handling components. Lymtech, which is made up of the John R. Lyman Co. and Big Blue Properties, based in Chicopee, MA, makes porous specialty wiping materials used in the pharmaceutical, medical device and other industries. The company's announcement does not give terms of the deal.
Russ Rogers, president of Filtrona Porous Technologies, says the acquisition and the new markets should provide growth. "The transaction is not only a logical extension of our porous fiber manufacturing technology, but also gives us access to the attractive growth and higher value clean room and controlled environment wipes market."
Rogers says the deal will allow Filtrona to expand Lymtech's business into Asia and Europe. Filtrona Porous is headquartered in Richmond, VA, and has manufacturing operations in the U.S., Germany, China and South Korea.
- read the announcement