Thermo Electron Acquires Leading Provider of Portable X-Ray Analyzers

Mar. 29, 2005

WALTHAM, Mass., March 29 /PRNewswire-FirstCall/ -- Thermo Electron (NYSE: TMO)announced today that it has purchased NITON LLC for approximately $40.5 million in cash, subject to a post-closing adjustment. NITON is a leading provider of portable X-ray analyzers for the metals, petrochemical, and environmental markets, with revenues of $36 million in 2004.

Marijn E. Dekkers, president and chief executive officer of Thermo Electron, said, "The addition of NITON is a continuation of our strategy to acquire companies that extend our capabilities so we can better serve the emerging needs of our customers. NITON helps Thermo bring a traditional laboratory-based analytical technique to settings outside the laboratory. Its portable products can quickly identify the composition of a wide range of metals, which is becoming increasingly important as new regulations controlling the use and disposal of toxic metals in various consumer products take effect, particularly in Europe and Japan."

NITON's portable X-ray analyzers provide non-destructive testing of a range of metals for industrial customers in a variety of manufacturing, quality control and quality assurance, environmental testing and recycling processes. NITON is headquartered in Billerica, Massachusetts, and will become part of the Scientific Instruments product line of Thermo's Life and Laboratory Sciences segment.

About Thermo Electron

Thermo Electron Corporation is the world leader in analytical instruments. Our instrument solutions enable our customers to make the world a healthier, cleaner and safer place. Thermo's Life and Laboratory Sciences segment provides analytical instruments, scientific equipment, services and software solutions for life science, drug discovery, clinical, environmental and industrial laboratories. Thermo's Measurement and Control segment is dedicated to providing analytical instruments used in a variety of manufacturing processes and in-the-field applications, including those associated with safety and homeland security. Based near Boston, Massachusetts, Thermo has revenues of more than $2 billion, and employs approximately 10,000 people in 30 countries. For more information, visit http://www.thermo.com.

Media Contact Information: 
Lori Gorski 
Phone: 781-622-1242
E-mail: lori.gorski@thermo.com
Website: http://www.thermo.com

Investor Contact Information:
J. Timothy Corcoran
Phone: 781-622-1111
E-mail: tim.corcoran@thermo.com

SOURCE Thermo Electron Corporation 
03/29/2005

CONTACT: Media Contact Information: Lori Gorski, +1-781-622-1242, lori.gorski@thermo.com; or Investor Contact Information: J. Timothy Corcoran, +1-781-622-1111, tim.corcoran@thermo.com

Web site: http://www.thermo.com
(TMO)

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About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, with revenues of more than $20 billion and approximately 70,000 employees globally. Our mission is to enable our customers to make the world healthier, cleaner and safer. We help our customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics, deliver medicines to market and increase laboratory productivity. Through our premier brands – Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services – we offer an unmatched combination of innovative technologies, purchasing convenience and comprehensive services. For more information, please visit http://www.thermofisher.com.

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