Tecan issues update on an OEM development project
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Tecan Group AG /
Tecan issues update on an OEM development project
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* Project developments resulting in a delay
* Additional costs could place burden on future operating profit in low to
mid-single digit range in CHF millions
* No impact to operating profit in 2011 and 2012.
* Tecan continues to anticipate total sales potential of more than
CHF 80 million in the first five years following successful development
Männedorf, Switzerland, September 30, 2011 - The Tecan Group (SIX Swiss
Exchange: TECN) today issued an update regarding an OEM development project
(project name used externally: P14) signed with a global diagnostics company in
November 2010. The agreement covers the development and supply of a dedicated
diagnostics instrument. Tecan had expected to ship the first instruments to the
diagnostics company in late 2012. Tecan now anticipates that supply be delayed.
The November 2010 agreement also stipulates that Tecan will pre-finance the
instrument's development costs and these will then be repaid at a later stage.
However, the agreement does not cover any additional costs arising as a result
of project delays. Following the commencement of supplies in 2013 and for the
ten-year term of the agreement, Tecan anticipates that its share of the
development costs could place an annual burden on operating profit in the low to
mid-single digit range in CHF millions. This event will not affect operating
profit in 2011 and 2012.
Tecan remains convinced of the OEM agreement's great potential and continues to
anticipate total sales potential of more than CHF 80 million in the first five
years of marketing following successful development. This expectation is
reinforced by the minimum purchase commitment the diagnostics company has
entered into.
About Tecan
Tecan (www.tecan.com) is a leading global provider of laboratory instruments and
solutions in biopharmaceuticals, forensics and clinical diagnostics. The company
specializes in the development, production and distribution of automated
workflow solutions for laboratories in the life sciences sector. Its clients
include pharmaceutical and biotechnology companies, university research
departments, forensic and diagnostic laboratories. As an original equipment
manufacturer (OEM), Tecan is also a leader in developing and manufacturing OEM
instruments and components that are then distributed by partner companies.
Founded in Switzerland in 1980, the company has manufacturing, research and
development sites in both Europe and North America and maintains a sales and
service network in 52 countries. In 2010, Tecan generated sales of
CHF 371 million (USD 356 million; EUR 269 million). Registered shares of Tecan
Group are traded on the SIX Swiss Exchange (TK: TECN/Reuters: TECZn.S/ ISIN:
1210019).
For further information:
Tecan Group
Dr. Rudolf Eugster Martin Brändle
Chief Financial Officer Head of Corporate Communications &
Investor Relations
investor(at)tecan.com Tel. +41 (0) 44 922 84 30
www.tecan.com Fax +41 (0) 44 922 88 89
--- End of Message ---
Tecan Group AG
Seestrasse 103 Männedorf Switzerland
ISIN: CH0012100191;
Press Release (PDF):
http://hugin.info/100384/R/1551049/477647.pdf
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Source: Tecan Group AG via Thomson Reuters ONE
[HUG#1551049]
Unternehmensinformation / Kurzprofil:
Datum: 30.09.2011 - 07:16 Uhr
Sprache: Deutsch
News-ID 70879
Anzahl Zeichen: 4485
contact information:
Town:
Männedorf
Kategorie:
Business News
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