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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.
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).
|Dr. Rudolf Eugster||Martin Braendle|
|Chief Financial Officer||Head of Corporate Communications &
|firstname.lastname@example.org||Tel. +41 (0) 44 922 84 30|
|www.tecan.com||Fax +41 (0) 44 922 88 89|