Thermo Electron completes acquisition of Jouan SA

Waltham, MA – January 12, 2004 – High-tech instrument manufacturer Thermo Electron says it has completed the acquisition of Jouan SA, a global supplier of equipment used by life science researchers in academic, pharmaceutical, biotech, and clinical markets to prepare and preserve laboratory samples. The acquisition was completed for 110.9 million euros (currently US$137 million) in cash plus the assumption of approximately 7.1 million euros (US$8.8 million) of consolidated net debt, subject to a post-closing balance sheet adjustment.

“With the addition of Jouan, we can provide our laboratory customers with a more comprehensive range of sample preparation products, supported by a global sales and service network,” says Marijn E Dekkers, president and chief executive officer of Thermo Electron. “We welcome the Jouan employees into our organization, and are excited about the new opportunities that will come from combining our complementary technologies and market strengths.”

Until the acquisition, Jouan was headquartered in Nantes, and is a leading international manufacturer of equipment for laboratories and is focussed specifically on the preparation, processing and preservation of samples for the biology market. Its products are marketed under the Jouan, Precision Science and NAPCO brands.