Key Technology to acquire minority interest in Proditec
MARCH 17, 2009 -- Process automation system designer and manufacturer Key Technology has reached an agreement to acquire a minority interest in Proditec SAS, a manufacturer of automated, solid-dose pharmaceutical inspection systems based on machine-vision technology.
MARCH 17, 2009 -- Process automation system designer and manufacturer Key Technology (Walla Walla, WA, USA; www.key.net) has reached an agreement to acquire a minority interest in Proditec SAS (Pessac, France; www.proditec.com), a manufacturer of automated, solid-dose pharmaceutical inspection systems based on machine-vision technology.
Key Technology will acquire a 15% minority interest for EUR870,000, or approximately US$1.1 million, within the next 30 days, subject to certain conditions. The company will also acquire an exclusive option to purchase the remaining interest in Proditec through Oct. 5, 2009. The agreement includes provisions addressing the potential future relationship between the parties, should the company not exercise its purchase option.
David Camp, president and CEO of Key Technology, says, "Acquiring an equity position in Proditec will strengthen our strategic initiatives in the pharmaceutical market. Our ultimate objective is to provide a comprehensive set of solutions to pharmaceutical solid-dose manufacturers to improve their production efficiencies while delivering the highest level of diligence related to product safety and security. Proditec offers an impressive product portfolio primarily focused on tablets and two-piece capsules, while Key's current pharmaceutical products primarily serve the softgel market."
-- Posted by Vision Systems Design, www.vision-systems.com