Bruker BioSpin Announces Agreement To Acquire Superconductor Business

BIOWIRE2K
RHEINSTETTEN, Germany--()--May 21, 2003--Bruker BioSpin GmbH announced today that it has signed a binding agreement with the Morgan Crucible Company plc (UK) to acquire the Superconductor Business of Vacuumschmelze GmbH & Co. KG, located in Hanau, Germany, via a newly formed Bruker superconductor subsidiary. Morgan Crucible had previously decided to divest the Superconductor Business, and selected Bruker BioSpin as the preferred acquirer. The acquisition is subject to customary closing conditions, and is expected to close in June 2003.

The Superconductor Business being acquired develops and manufactures low-temperature superconducting wire used in superconducting magnets for magnetic resonance imaging (MRI), nuclear magnetic resonance (NMR) spectroscopy and other projects, such as magnets for high-energy physics. It is also a leader in developing and supplying advanced high-temperature superconductors for a variety of potential future applications.

The Superconductor Business employs approximately 180 employees in Hanau, Germany, and essentially all employees and the management of the Superconductor Business are expected to join the new Bruker superconductor subsidiary at the existing Hanau location. Bruker BioSpin management intends to continue the Superconductor Business "as is", and will be focusing on serving all present customers of the business.

While Bruker BioSpin itself will be a significant customer of the Superconductor Business, the majority of its products will be supplied to various medical MRI magnet manufacturers, as well as to research magnet customers worldwide. Bruker BioSpin itself also will continue to procure a significant amount of superconducting wire for its NMR magnets from its other suppliers in Japan and Europe.

"Bruker BioSpin is the world leader in high-field superconducting magnets for NMR," explained Dr. Gerhard Roth, Managing Director of Bruker BioSpin GmbH, "and the acquisition of the Superconductor Business presented an opportunity to secure a portion of our supply of high-performance wires required for our NMR magnets. We are looking forward to driving the further development, process and quality control of these types of wires for our very demanding specifications together with our new colleagues in Hanau, as well as with our other suppliers."

Joerg Laukien, European Chief Operating Officer of the Bruker BioSpin Group, continued: "Moreover, we are looking forward to the additional business opportunities of being a high-quality and cost-effective supplier of superconducting wires for various MRI magnet manufacturers, and for the physics research community worldwide. We are also very excited about the emerging applications and markets for high-temperature superconductors in magnetic levitation, energy storage, fast electronics and ultra-high field magnets."

About Bruker BioSpin

The global Bruker BioSpin Group, designs, manufactures and distributes enabling life science and analytical research tools based on magnetic resonance core technology. The Group's technology platforms include NMR, EPR, MRI and superconducting magnets. Bruker BioSpin's NMR division is the worldwide technology and market leader in NMR. For more information please visit www.bruker-biospin.com.

Contacts

Dahlgren Communications
Jennifer Dahlgren, 530/265-0538
jdahlgren@gv.net
or
Bruker BioSpin Corporation
Brenda Prost, 978/667-9580 ext. 188
brenda.prost@bruker-biospin.com

Contacts

Dahlgren Communications
Jennifer Dahlgren, 530/265-0538
jdahlgren@gv.net
or
Bruker BioSpin Corporation
Brenda Prost, 978/667-9580 ext. 188
brenda.prost@bruker-biospin.com