Millipore acquires remaining 60% ownership in India

Millipore Corporation, today said it has acquired the remaining 60% ownership of its joint venture in Millipore India Private Limited.

The new subsidiary will enable Millipore to invest in initiatives that will drive growth and expand its leadership in India's thriving life-science market, the company said in a statement issued here.

The purchase price of the transaction was not disclosed.

"By establishing direct operations in the country, we will be able to more effectively execute our strategy and leverage our unique capabilities to accelerate growth and support our growing customer base in this dynamic market," Millipore's chairman, president and CEO, Martin Madaus, said.

India has experienced unprecedented levels of investment and expansion in the country's biotechnology, pharmaceutical and life-science research industries, Madaus said.

Millipore Corporation is a life-science leader providing cutting-edge technologies, tools, and services for bioscience research and biopharmaceutical manufacturing. It has more than 5,900 employees world-wide.

Bangalore-based Millipore India currently employs 300 people and has additional offices in Ahmedabad, Hyderabad, Kolkata, Mumbai and Delhi, the statement said.