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[February 2001]
US-UK Strategic Alliance in Instrumentation Field
Rheometric Scientific Inc (Piscataway, NJ, USA) has announced that it has signed an exclusive agreement to form a strategic alliance with Camtel Ltd (Royston, Herts, England) to be the sole marketer and distributor for all Camtel Ltd instruments. In addition, under the terms of the agreement, Rheometric Scientific Inc has an exclusive option to acquire all the shares of Camtel for the next 15 months for cash and shares of Rheometric common stock.
Camtel was established in 1993 and is a leading manufacturer of interfacial rheology and contact angle tensiometry instrumentation, software and services. Its products are based upon proprietary technology for which the company has an application exclusive licence.
Details of the transaction and financial information relating to Camtel, which is a privately held company, were not disclosed. The Boards of Directors of both companies have approved this exclusive alliance and the future option to acquire Camtel Ltd.
ENDS