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Bosch intends to purchase minority share of Industrial Pharmaceutical Resources, Inc.
Date:12/11/2012

FARMINGTON HILLS, Mich., Dec. 11, 2012 /PRNewswire/ -- Bosch Packaging Services, Inc., announced today that it intends to purchase a minority share of Industrial Pharmaceutical Resources, Inc., (IPR, Inc.) of Bartlett, Ill., which refurbishes, upgrades and manufactures control and automation products and inspection systems for pharmaceutical equipment, such as tablet presses. In 2011, with 23 associates, IPR, Inc., generated sales of approximately $12.4 million. The terms of the investment will remain private per the agreement of both parties. The transaction is subject to normal closing conditions, including regulatory approvals.

"Securing a minority share of Industrial Pharmaceutical Resources, Inc., will further strengthen our value chain and will provide a strong addition to our recent acquisition of Manesty Ltd., in the United Kingdom, and Huttlin, based in Schopfheim, Germany," said Gary Anderton, general manager, Bosch Packaging Services, Inc. In 2011, Bosch acquired Manesty Ltd., which specializes in the manufacture of tablet presses and tablet coating systems and Huttlin, which produces specialty drying and granulation equipment.

Enhanced support to customers
Already in 2007, IPR became the North American Service and approved OEM parts provider for Manesty Machines. "Working together, we expect to have cost synergies and our collective efforts will provide enhanced support to customers in the aftermarket sector," Anderton said.

The product and service portfolio of IPR includes equipment refurbishing to restore pre-owned machinery. The company also offers replacement parts and used equipment. In addition, IPR provides a wide range of control and automation products and services as well as tooling inspection and analysis systems.

According to Joseph Dougherty Jr., president of IPR, Inc., "Combining IPR's controls knowledge with Bosch's manufacturing knowledge of Manesty machines will provide further value for our customers,
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SOURCE Bosch
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