Endress+Hauser and Finesse Solutions Form Strategic Partnership - Swiss Process Automation Provider Invests in US Biotech Company
SAN JOSE, Calif., Oct. 19, 2011 /PRNewswire via COMTEX/ -- Process automation specialist Endress+Hauser has acquired a stake in Finesse Solutions, a US company that develops, produces and distributes sensors, hardware and software for bioprocess engineering.
Endress+Hauser intends to strengthen its position in the area of biotechnology through this cooperation. "Biotechnological procedures will play an increasingly important role in the future, not only in the life sciences industry but also in other industries such as the chemical industry to manufacture products in a more environmentally friendly and economical fashion," emphasizes Klaus Endress, CEO of the Endress+Hauser Group. "Our partnership with Finesse offers us the possibility of gaining experience in this area without neglecting our core business."
Combined offers for customers
Finesse Solutions will profit from leveraging the know-how of the new strategic relationship to extend its product portfolio and to enhance its global sales and service capabilities. The two companies intend to cooperate closely in relation to products, markets and customers, and to complement each other, for example, in the provision of global after-market services to bioprocess end users. "Endress+Hauser and Finesse Solutions have many common customers who can profit from this cooperation," stated Finesse CEO Barbara A. Paldus.
The previous majority shareholder, Skymoon Ventures, will hold an equal stake to Endress+Hauser. The company's staff of about 50 will maintain their ownership in the company. Endress+Hauser will elect two representatives to the Board of Directors, which Barbara A. Paldus will continue to chair.
The Endress+Hauser Group
Endress+Hauser is a global leader in measurement instrumentation, services and solutions for industrial process engineering. In 2010, the Group generated with over 8,500 employees worldwide net sales of 1.3 billion euros.
Company-owned sales centers and a network of partners guarantee competent worldwide support. Production centers in eleven countries meet customers' needs and requirements quickly and effectively. As a successful family-owned business, Endress+Hauser is set for continued independence and self-reliance in the future.
Endress+Hauser provides sensors, instruments, systems and services for level, flow, pressure and temperature measurement as well as liquid analysis and data acquisition. The company supports customers with solutions and services in automation engineering, logistics and information technology. Our products set standards in quality and technology.
Customers are primarily from the chemical/petrochemical, food & beverage, water/wastewater, life science, oil & gas, power & energy, renewable energies, primaries & metal, pulp & paper and shipbuilding industries. Endress+Hauser supports its customers to optimize their process engineering procedures while taking into consideration reliability, safety, economic efficiency and environmental protection.
Founded in 1953 by Georg H. Endress (1924 - 2008) and Ludwig Hauser (1895 - 1975), Endress+Hauser has been solely owned by the Endress family since 1975. The company group, headed by Klaus Endress since 1995, has developed from being a specialist in level measurement to a provider of complete solutions for industrial measuring technology and automation, with constant expansion into new territories and markets.
Finesse Solutions, Inc., based in San Jose, California, has established a proven record in providing turnkey, scalable solutions for single-use upstream bio-processing. The Finesse product platform includes an extensive portfolio of innovative disposable sensors, modular configure-to-order automation hardware and intelligent software that can harmonize global bio-process information and technology transfer. Finesse also offers a complete set of services including startup, commissioning and validation for rapid and reliable deployment of single-use equipment into cGMP manufacturing applications.
For further information, please visit www.press.endress.com or www.finesse.com
SOURCE Finesse Solutions, Inc.