SEELZE, Germany, Dec. 3 -- Honeywell (NYSE: HON) announced today a multi-year distribution agreement
Burdick & Jackson solvents are used extensively by biotechnology and pharmaceutical companies in the drug discovery and evaluation process.
"The annual growth rate of the Turkish pharmaceutical market is estimated to be between 8 percent and 9 percent in the next four years. This places Turkey among the high-potential pharmaceutical markets in the region, and we are glad to be have a strong partner there," said Daniel Nott, the regional leader for Honeywell's Health Care and Packaging business in Europe, Middle East and Africa. "This agreement will further help position us as a leading company in providing a wide range of high-purity solvents for research and development in the region."
Pro-Lab, based in Istanbul, is a leading distributor of a wide range of materials and equipment for laboratories in Turkey. Gokhan Aydogan, general manager of Pro-Lab, said both companies aim to provide quality offerings and high levels of service to the high-purity solvents market in Turkey. "We believe there are a lot of untapped opportunities to be explored, especially in the booming pharmaceutical industry," Aydogan said.
Honeywell's high-purity solvents are critical to the successful research, development and approval cycle of pharmaceuticals. Major applications include analytical instrumental analysis, such as high-performance liquid chromatography (HPLC), as well as pilot and full scale production of pharmaceuticals. Honeywell also offers reagents for DNA and RNA synthesis. Honeywell manufactures its solvents for the Turkish market at its production facility in Seelze, Germany.
The agreement with Pro-Lab expands Honeywell Burdick & Jackson's distribution network in Europe, Middle East and Africa. In Germany and Austria, Honeywell's high-purity solvents are distributed by OMNI Life Science; the Irish market is supplied by Reagecon Diagnostics; the Swiss market by Thommen-Furle; the markets in Sweden, Norway and Denmark by Saveen Werner.
For more information, visit www.burdickandjackson.eu or www.pro-lab.com.tr.
Honeywell's Health Care and Packaging business is part of Honeywell Specialty Materials, a global leader in providing customers with high-performance specialty materials, including fluorine products; specialty films and additives; advanced fibers and composites; intermediates; specialty chemicals; electronic materials and chemicals; and technologies and materials for petroleum refining.
Honeywell International (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.
This report contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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