Pall Corporation Sells $550 Million In Assets
In April of 2012, Pall Corporation announced it would be selling off $550 million in assets to the healthcare company Haemonetics Corporation. The deal stipulated that Haemonetics would receive certain equipment and operations used in blood transfusions and collections along with filtration and processing systems, and manufacturing facilities located in California, Mexico, and Italy. In addition, about 1,300 employees were transitioned over to Haemonetics as a result of the deal. According to Pall Corporation’s current president and CEO, Larry Kingsley, the sale of assets would be a direct contributor to the long-term growth of the company. Under the terms of the deal, the sale is expected to be completed by 2016. Pall Corporation is an international supplier of filtration
, separations, and purification products for a large number of diverse industries. The company has been listed as Fortune 1000 company since 1991 and is currently an S&P 500 Component company as well. On average, total annual revenues are reported to be around $2.75 billion, of which over $86 million are usually spent on R&D. The two main operating groups of Pall Corporation are Life Sciences and Industrial, which encompass 51% and 49% of the company’s total business, respectively. Between these two groups, the company provides filtration products to the following industries: biotechnology, pharmaceutical, transfusion medicine, energy, electronics, municipal, industrial water purification, aerospace, and transportation. The aerospace and defense industry in particular has proven to be a lucrative industry for Pall Corporation. Their aerospace, defense, and marine division, known as Pall Aeropower, services commercial and military aircraft, helicopters, military vehicles, and ships. They have very stringent performance, maintainability, and reliability requirements that ensure top-of-the-line products for these highly-regulated industries. Over the years, Pall Corporation has become involved in some aspects of every aerospace and defense program that has required fluid clarification. Expect this trend to continue.
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Posted on November 20, 2014