9 Dec 2011 07:00
9 December 2011
Modern Water plc
("Modern Water" or "the Group")
MODERN WATER COMPLETES ACQUISITION OF MICROTOX
Modern Water (AIM:MWG), a provider of leading water technologies for the production of fresh water and monitoring of water quality, is pleased to announce that further to the announcement made on 11 November 2011, it has today completed the acquisition of the water quality division of Strategic Diagnostics Inc. ("SDIX"), including its Microtox® toxicity testing technology.
Microtox is a leading worldwide brand in water toxicity monitoring, and the acquisition will further enhance Modern Water's offering in this key marketplace. Modern Water expects to benefit from synergies as both Cymtox and Microtox use the same platform bioluminescent technology, and the combined expertise in this field provides a strong base for future product development.
There are also geographical benefits to the acquisition as Microtox sales are expected to capitalise on the distribution channels Cogent and Cymtox have established in China and Asia. Moreover, sales of Modern Water's existing products should be enhanced by the strength of the sales team and distribution partners in the US and Canada.
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For further information:
www.modernwater.com
Modern Water plc | |
Neil McDougall, Executive Chairman | + 44 7740 930303 |
Simon Humphrey, Chief Executive | + 44 1483 696000 |
HeadLand Consultancy | |
Howard Lee or Tom Gough | + 44 20 7367 5228 |
Nomura Code (Nominated Adviser) | |
Juliet Thompson or Phil Walker | + 44 20 7776 1200 |
Notes to editors
About Modern Water (www.modernwater.com)
Modern Water owns, installs and operates world-leading desalination technology and develops and supplies advanced systems for water monitoring. Its shares trade on the Alternative Investment Market of the London Stock Exchange.
Modern Water's patented forward osmosis technology has been proven to significantly reduce costs, lower energy consumption and lessen environmental impact in a variety of industries. With a sales presence in over 20 countries, the Group's Monitoring Division includes the world's best performing real-time continuous toxicity monitor and trace metal analysers for monitoring the quality of drinking water.
About SDIX (www.sdix.com)
SDIX is a biotechnology company with a core expertise in creating better antigens, better antibodies and better assays for the pharmaceutical, biotechnology and food safety markets. For over 20 years, SDIX has been a leading immuno-solutions company, developing results-oriented and innovative antibody-based solutions that enable customers to meet high performance research, diagnostic and commercialization objectives.
In the life science market, SDIX's technology and capabilities are being used to help discover disease mechanisms, facilitate development of new drugs and provide antibodies and assays for the diagnosis of disease. In the food safety market, SDIX continues to expand its footprint as an international supplier of rapid pathogen test technologies that enable more accurate and cost-effective results.