Speciality glassmaker Corning Inc. reported in mid-September 2009 that it is acquiring Axygen BioScience Inc. for about USD 400 million from American Capital Ltd. to broaden its life sciences business…
Speciality glassmaker Corning Inc. reported in mid-September 2009 that it is acquiring Axygen BioScience Inc. for about USD 400 million from American Capital Ltd. to broaden its life sciences business. Axygen, based in Union City, California, which will be acquired for cash, manufactures plastic consumable labware and liquid handling products. Corning announced that the acquisition will enable it to increase its life-sciences revenue to more than USD 500 million by 2011 from the 2008 value of USD 326 million. Corning“s most important business is liquid crystal display glass for flat-screen televisions and computers, and also manufactures optical fiber and cable and auto-pollution filters.