Cuno (NASDAQ:CUNO)
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CUNO Acquires Polymerics, Inc.
MERIDEN, Conn., June 3 /PRNewswire-FirstCall/ -- CUNO Incorporated
(NASDAQ:CUNO) announced the recently completed acquisition of Polymerics, Inc.,
a small, privately owned manufacturer of carbon-based media products used in
water filtration. Polymerics is located in Longmont, Colorado and has
approximately 10 employees. In 2003, Polymerics had sales of approximately
$1.0 million. Terms of the transaction were not disclosed, although CUNO
indicated that the purchase price was not a material amount to CUNO.
Mark G. Kachur, CUNO's CEO and President, said, "Polymerics' proprietary
advanced carbon impregnated porous plastic filter media represents a valuable
addition to CUNO's technical capabilities. We expect this technology to have
important applications in our future media development, particularly for use in
the filtration of drinking water. Polymerics has a technology license
agreement with WTC Industries, providing each party with a right to use the
technology in the water filtration market. The acquisition of Polymerics will
provide CUNO with access to this attractive filtration media technology."
CUNO is a world leader in the design, manufacture and marketing of a
comprehensive line of filtration products for the separation, clarification and
purification of liquids and gases. CUNO's products, which include proprietary
depth filters and semi-permeable membrane filters, are used in the potable
water, healthcare, and fluid processing markets.
CUNO wants to provide shareowners and prospective investors with more
meaningful and useful information and, therefore, this press release includes
various comments regarding business conditions and the outlook for CUNO, which
reflect currently available information. These forward-looking statements are
subject to risks and uncertainties which could cause performance or actual
results to differ materially from those expressed herein. Such risks and
uncertainties include, among other things: volumes of shipments of CUNO's
products; changes in product mix and product pricing; costs of raw materials;
the rate of economic and industry growth in the U.S. and the other countries in
which CUNO conducts business; economic and political conditions in the foreign
countries in which CUNO conducts a substantial part of its operations and other
risks associated with international operations including exchange rate
fluctuations; CUNO's ability to protect its technology; continuing beneficial
relationships with customers; proprietary products and manufacturing
techniques; changes in technology; changes in legislative, regulatory or
industrial requirements and risks generally associated with new product
introductions and applications; and domestic and international competition in
CUNO's global markets. CUNO assumes no obligation to update the information
contained in this press release.
Contact Info:
CUNO:
Frederick C. Flynn, Jr.
203/238-8847
DATASOURCE: CUNO Incorporated
CONTACT: Frederick C. Flynn, Jr. of CUNO, +1-203-238-8847,
Company News On-Call: http://www.prnewswire.com/comp/126696.html