H. Lawrence Culp, Jr., Danaher's President and Chief Executive Officer, said: "ChemTreat's world class sales and service organization will complement our current water quality offering and represents a natural adjacency to our existing water treatment business. Working together, we believe there will be significant opportunities to grow in this attractive segment of the water market and we are looking forward to having such a well-respected company join Danaher."
Headquartered in Glen Allen, Virginia, and with revenues of over $200 million in its most recent completed fiscal year, ChemTreat is a leading provider of industrial water treatment solutions for a broad set of end markets with a particular focus on boiler, cooling water and industrial waste water applications.
The transaction is subject to regulatory approval and customary closing conditions and is expected to be modestly accretive to 2008 earnings.
Danaher Corporation is a leading manufacturer of Professional Instrumentation, Medical Technologies, Industrial Technologies and Tools and Components. (http://www.danaher.com/)
Statements in this release that are not strictly historical, including statements regarding events or developments that we believe or anticipate will or may occur in the future, may be "forward-looking" statements. These forward-looking statements include statements about the proposed acquisition of ChemTreat, the expected timetable for completing the transaction, the regulatory approvals and closing conditions applicable to the transaction, anticipated benefits and synergies of the transaction, future opportunities for the combined company, ChemTreat's future growth and any other statements about ChemTreat or Danaher management's future expectations, beliefs, goals, plans or prospects. There are a number of risks and uncertainties that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These risks and uncertainties include, among other things, the uncertainty of regulatory approvals, conditions affecting the industries in which ChemTreat and Danaher do business, general economic conditions as well as other risks and uncertainties set forth in Danaher's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this release and Danaher does not intend to update any forward-looking statement.
First Call Analyst:
SOURCE: Danaher Corporation
CONTACT: Andy Wilson, Vice President, Investor Relations of Danaher,
+1-202-828-0850, Fax: +1-202-828-0860
Web site: http://www.danaher.com/