Eurofins expands advanced materials sciences footprint with Netherlands outsourcing deal
Market-leading global laboratory group Eurofins Scientific has found a new way to expand its capabilities. The company is well known for pursuing growth through acquisition, but when it came time to grow its advanced materials sciences footprint in the Netherlands, it chose another route: outsourcing. The company announced last week that it had signed an “outsourcing agreement in combination with an exclusive 3-year supply agreement” with Signify (formerly known as Phillips Lighting).
Eurofin’s share price has declined over the last five days
Source: Yahoo Finance
Signify’s Lighting Materials Analysis and Reliability Laboratory, which is located in the Netherlands, is part of the High Tech Campus in Eindhoven, and it includes 50 highly trained staff. The broad range of analytical services it provides also gel well with a major Eurofins acquisition: EAG Laboratories. Services available at the lab include materials characterisation, chemical compatibility, imaging and reliability services to support product innovation and improvement, trouble-shooting and quality control activities for a range of customers in healthcare, lighting and other high-tech industries.
Eurofins CEO, Dr. Gilles Martin, made the following comment over the deal: “Eurofins only recently entered the advanced materials sciences testing sector, with the acquisition of EAG Laboratories in December 2017. We are very pleased that Signify has already entrusted Eurofins with outsourcing its internal materials analysis laboratory, demonstrating Eurofins’ strong reputation for its scientific expertise and operational excellence in its laboratories’ network. The long tradition of innovation and excellence of analytical techniques at Signify will resonate with Eurofins’ entrepreneurial and innovative culture. This outsourcing agreement provides Eurofins with a valuable entry into the high potential North European advanced materials sciences market.”
Dominion holds Eurofins Scientific in its Global Trends Managed Fund.
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