One of Pittsburgh’s most innovative technology companies, Thar Technologies, made a huge announcement yesterday. Thar’s Instruments division, Thar Instruments, Inc., was bought by global laboratory solutions giant, Waters Corporation (NYSE: WAT). Check out the press release from Waters below and look for an upcoming feature article in the TechV!be eNewsletter.
Waters Corporation today announced it has acquired all of the remaining outstanding capital stock of privately held Pittsburgh-based Thar Instruments, Inc., the world’s largest supercritical fluid chromatography (SFC) manufacturer, for an undisclosed amount. Waters(R) had previously made an equity investment in Thar in June 2007. Current annual revenues of Thar are approximately $18 million and the acquisition is estimated to be neutral to Waters 2009 earnings.
Considered a leading ‘green’ analytical and purification technology, Thar’s SFC and extraction systems are used to separate, isolate and quantify chemical compounds. The principles of SFC are similar to those of liquid chromatography; however SFC typically uses carbon dioxide as the main mobile phase. Carbon dioxide offers environmental and cost benefits compared to liquid chromatography solvents.
“By combining Thar’s advanced SFC instrumentation with Waters chromatography expertise, Waters is committed to bringing the benefits of SFC to more laboratories for analytical and purification applications worldwide,” said Dr. Rohit Khanna, Vice President, Worldwide Marketing for Waters Division.
About Thar Instruments (www.tharsfc.com)
Thar Instruments, formerly a division of Thar Technologies, is solely focused on advancement and applications of supercritical fluid technologies (SFC). Thar Instruments, headquartered in Pittsburgh, is the world leader in design, development and manufacturing of analytical and preparative SFC instrumentation for pharmaceutical and fine chemical industry. Thar Instruments’ customers include top pharmaceutical, universities and government research organizations worldwide.
About Waters Corporation (http://www.waters.com)
Waters Corporation creates business advantage for laboratory-dependent organizations by delivering practical and sustainable innovation to enable significant advancements in such areas as healthcare delivery, environmental management, food safety, and water quality worldwide.
Pioneering a connected portfolio of separations science, laboratory information management, mass spectrometry and thermal analysis, Waters technology breakthroughs and laboratory solutions provide an enduring platform for customer success.
With revenue of $1.58 billion in 2008 and 5,000 employees, Waters is driving scientific discovery and operational excellence for customers worldwide.
Waters is a trademark of Waters Corporation.
SOURCE: Waters Corporation
