Agilent Technologies Inc, which makes electronic testing equipment, said it would buy Varian Inc for $1.5 billion in cash to bolster its fast-growing bioanalytical measurement business. Varian specialises in instruments to measure biological and physical properties.
Agilent said it would pay $52 a share,which is a 35% premium to Varian's closing share price on Friday. The boards of both sides have approved the deal,the companies said on Monday.
Analysts said Agilent has long wanted to expand its bioanalytical measurement business, which accounted for about 46% of revenue in the second quarter.The segment has a higher profit margin and is a more stable business than the increasingly commoditised electronic measurement business that now accounts for more than half of Agilent's revenue.
The acquisition of Varian will bump bioanalytical measurement to about 55%of Agilent's revenue and there is room for cost cuts to boost profit growth."These two factors justify the price,"analysts said.
The company expects regulators to approve the deal before the end of the year. Once completed, the transaction would likely result in $75 million in annual savings, it said.
Agilent competes with PerkinElmer Inc, Thermo Fisher Scientific Inc, Waters Corp, and Life Technologies Corp in the bioanalytical business.
"Varian can help Agilent expand product offerings in the life sciences, environmental, energy and materials sectors,and help it enter new markets, including nuclear magnetic resonance imaging and atomic and molecular spectroscopy.
"While we continue to be a world leader in electronic measurement, our biggest opportunities for future growth are in bioanalytical measurement,"Agilent chief executive Bill Sullivan said in a statement.
Tuesday, August 18, 2009
Made-in-China foodstuff processing & packaging machinery will spotlight the 6th CAEXPO
Thai enterprises will find a good showcase of the made-in-China foodstuff processing & packaging machinery at the upcoming 6th China-ASEAN Expo (CAEXPO).
Business pre-matching services will be provided by the CAEXPO Secretariat for the Thai enterprises with their Chinese counterparts.
The 6th CAEXPO, to be held on October 20-24, 2009 will, a usual, set up the Foodstuff Processing & Packaging Machinery Section with 190 booths, for showchinery Section with 190 booths, for showcasing those made-in-China products that are prevailing the Thailand market, which will create more business opportunities for the enterprises.
All the booths in this Section have been reserved. On display will include slaughter machinery, beverage machinery, juice machines, cooking & hot drink machines, refrigerators, sorting machines, drying machines, filtration & purification machines, blow molding machines, plastic injection machines, labeling machines, coding machines, filling machines and shrink packaging machines, etc.
Chinese leading enterprises will join the 6th CAEXPO as exhibitors, including Jarvis Machinery Manufacturing Beijing Corporation, Shanghai Precise Light Industry Equipment Co.,Ltd., Jin Rong Machinery Company and Zhangijagang Thongda Machinery Co., Ltd, etc.
Facing the current financial crisis, the Chinese government has introduced a series of incentives for the Chinese exhibiting enterprises in the CAEXPO. At the working meeting held in this April, the Ministry of Commerce of China (MOFCOM) requested that commercial departments of all Chinese provinces and municipalities should mobilize local leading enterprises to the upcoming 6th CAEXPO.
Besides, companies from Chinese Taipei will exhibit their products this year. With their economic and trade ties with Chinese Mainland becoming closer, Taiwan enterprises reconize the CAEXPO as an improtant platform for economic and trade collaboration, via which they could establish and expand business cooperation with ASEAN enterprises. Taiwan companies will use 20 booths in the Foodstuff Processing & Packaging Machinery Section, including NEW BONAFIDE MACHINERY CO., LTD LISKY INDUSTRIAL CO., LTD and YUAN JAAN STAINLESS STEEL INDUSTRIAL.CO.,LTD, etc.
Current booming foodstuff export of Thailand fosters the need for more imported packaging materials and equipment. The Chinese foodstuff processing & packaging machinery, given good quality, competitive price, efficient delivery and lower transportation fees, have found a ready market in Thailand. Strongly complementing with each other, Thailand and China enjoy huge potentials for cooperation in this regard.
The Foodstuff Processing & Packaging Machinery Section has scored a considerable economic out comes at the previous 5 CAEXPOs, with 433 exhibiting enterprises that used 734 booths and a total trade volume wroth USD115.83 million. Via the event, buyers from Thailand and other countries have established cooperation with their Chinese counterparts.
The CAEXPO Secretariat will provide business pre-matching service for each of the sourcing companies at the 6th CAEXPO, and during the fair period, various business promotion programs like sourcing conferences and mini0seminars will be arranged. Temporary direct chartered flights will also be open between Bangkok and Nanning during the 6th CAEXPO, and roundtrip flights will be avialable between Hong Kong/Guangzhou and Nanning (about 1 hour for one-way trip) to facilitate the participants of the China Import & Export Fair (Canton Fair) who wi8ll attend the 6th CAEXPO.
Business pre-matching services will be provided by the CAEXPO Secretariat for the Thai enterprises with their Chinese counterparts.
The 6th CAEXPO, to be held on October 20-24, 2009 will, a usual, set up the Foodstuff Processing & Packaging Machinery Section with 190 booths, for showchinery Section with 190 booths, for showcasing those made-in-China products that are prevailing the Thailand market, which will create more business opportunities for the enterprises.
All the booths in this Section have been reserved. On display will include slaughter machinery, beverage machinery, juice machines, cooking & hot drink machines, refrigerators, sorting machines, drying machines, filtration & purification machines, blow molding machines, plastic injection machines, labeling machines, coding machines, filling machines and shrink packaging machines, etc.
Chinese leading enterprises will join the 6th CAEXPO as exhibitors, including Jarvis Machinery Manufacturing Beijing Corporation, Shanghai Precise Light Industry Equipment Co.,Ltd., Jin Rong Machinery Company and Zhangijagang Thongda Machinery Co., Ltd, etc.
Facing the current financial crisis, the Chinese government has introduced a series of incentives for the Chinese exhibiting enterprises in the CAEXPO. At the working meeting held in this April, the Ministry of Commerce of China (MOFCOM) requested that commercial departments of all Chinese provinces and municipalities should mobilize local leading enterprises to the upcoming 6th CAEXPO.
Besides, companies from Chinese Taipei will exhibit their products this year. With their economic and trade ties with Chinese Mainland becoming closer, Taiwan enterprises reconize the CAEXPO as an improtant platform for economic and trade collaboration, via which they could establish and expand business cooperation with ASEAN enterprises. Taiwan companies will use 20 booths in the Foodstuff Processing & Packaging Machinery Section, including NEW BONAFIDE MACHINERY CO., LTD LISKY INDUSTRIAL CO., LTD and YUAN JAAN STAINLESS STEEL INDUSTRIAL.CO.,LTD, etc.
Current booming foodstuff export of Thailand fosters the need for more imported packaging materials and equipment. The Chinese foodstuff processing & packaging machinery, given good quality, competitive price, efficient delivery and lower transportation fees, have found a ready market in Thailand. Strongly complementing with each other, Thailand and China enjoy huge potentials for cooperation in this regard.
The Foodstuff Processing & Packaging Machinery Section has scored a considerable economic out comes at the previous 5 CAEXPOs, with 433 exhibiting enterprises that used 734 booths and a total trade volume wroth USD115.83 million. Via the event, buyers from Thailand and other countries have established cooperation with their Chinese counterparts.
The CAEXPO Secretariat will provide business pre-matching service for each of the sourcing companies at the 6th CAEXPO, and during the fair period, various business promotion programs like sourcing conferences and mini0seminars will be arranged. Temporary direct chartered flights will also be open between Bangkok and Nanning during the 6th CAEXPO, and roundtrip flights will be avialable between Hong Kong/Guangzhou and Nanning (about 1 hour for one-way trip) to facilitate the participants of the China Import & Export Fair (Canton Fair) who wi8ll attend the 6th CAEXPO.
Better machinery to help sharpen edge
A focus on machinery development for agriculture and processed agricultural products will help improve Thailand's competitiveness, according to Narong Warongkriengkrai, the director of the Thai-German Institute.
Developing locally made machinery to serve these industries would reduce the imports, promote exports and better serve local needs and conditions, he said.
"Thailand is an agricultural country so the development of machinery in this field will build solid support for our dominant agricultural industry," Mr Narong said.
The institute acts as a technology database and development centre to promote local technology development through repairing and reverse engineering of imported machinery, along with research and skills training.
The institute has already helped to develop machine tools and mould and die equipment to serve local electronic and plastic-injection industry. Over the past six years, it estimated that the programme had helped reduce the cost of machinery imports by 6.8 billion baht and raise export income by 4.6 billion.
Mr Narong said that improving the image of locally made machinery was a challenge as many businesses believed imported equipment was better.
"The institute is trying to build that trust in locally developed machinery,mainly through improving local labour skills. with better skill, local workers will be able to develop their own machinery that is best suited to local conditions,"he pointed out.
"Companies with these trained workers would then prefer to use local products, which their people understand better than imported ones, and their operations efficiency will be better," he said.
Damri Sukhotanang, the permanent secretary of the Industry Ministry, said the institute's role in improving labour skills over the past 10 years had brought some success. For example, an increasing number of technology companies from Taiwan and Korea now prefer to employ skilled workers from Thailand.
"This is a good opportunity for local skilled workers, yet it creates a worry that skilled people will all be working for foreign firms and leave local firms uncompetitive," Mr Damri said.
The institute has opened a 25-millionbaht technology centre in Rajamangala University of Technology Suvarnabhumi in Ayutthaya, where machining, mould and die technology and automation training is offered and equipment can be rented to local companies.
Developing locally made machinery to serve these industries would reduce the imports, promote exports and better serve local needs and conditions, he said.
"Thailand is an agricultural country so the development of machinery in this field will build solid support for our dominant agricultural industry," Mr Narong said.
The institute acts as a technology database and development centre to promote local technology development through repairing and reverse engineering of imported machinery, along with research and skills training.
The institute has already helped to develop machine tools and mould and die equipment to serve local electronic and plastic-injection industry. Over the past six years, it estimated that the programme had helped reduce the cost of machinery imports by 6.8 billion baht and raise export income by 4.6 billion.
Mr Narong said that improving the image of locally made machinery was a challenge as many businesses believed imported equipment was better.
"The institute is trying to build that trust in locally developed machinery,mainly through improving local labour skills. with better skill, local workers will be able to develop their own machinery that is best suited to local conditions,"he pointed out.
"Companies with these trained workers would then prefer to use local products, which their people understand better than imported ones, and their operations efficiency will be better," he said.
Damri Sukhotanang, the permanent secretary of the Industry Ministry, said the institute's role in improving labour skills over the past 10 years had brought some success. For example, an increasing number of technology companies from Taiwan and Korea now prefer to employ skilled workers from Thailand.
"This is a good opportunity for local skilled workers, yet it creates a worry that skilled people will all be working for foreign firms and leave local firms uncompetitive," Mr Damri said.
The institute has opened a 25-millionbaht technology centre in Rajamangala University of Technology Suvarnabhumi in Ayutthaya, where machining, mould and die technology and automation training is offered and equipment can be rented to local companies.
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