IRIS International Inks $11 Million Deal With IDEXX
IRIS International, Inc., a Chatsworth-based maker of automated urinalysis systems and medical devices used in hospitals and clinical laboratories, said that it has signed a five-year supply agreement with IDEXX Laboratories Inc. to supply its veterinary centrifuge. Under the terms of the agreement, IRIS will be the sole supplier of the StatSpin VT and similar stand alone veterinary centrifuges for all of IDEXX’s in-clinic needs in the U.S. and Europe. The contract is estimated to be worth around $11 million.
“Our association with IDEXX goes back to the late 1980s when we introduced our first StatSpin multipurpose centrifuge for clinical and animal health diagnostics,” said Robert Mello, IRIS Corporate Vice President and President of the Sample Processing Business Unit, in a statement. “The close relationship between our two companies is reinforced by the fact that under the agreement the VT centrifuge will carry both the StatSpin and IDEXX brand names.”
CB Richard Ellis Group Inc. Revamps Credit Options
Los Angeles-based CB Richard Ellis Group, Inc. announced the closing of a $600 million multi-currency revolving credit facility, which will replace its existing revolving and term loan credit facility; providing the Company with greater financial flexibility. CB Richard Ellis is the world’s largest commercial real estate company with more than 14,000 employees and is a Fortune 1000 company.
Raytheon Gets Contract from Northrop
Raytheon Company has been awarded a contract from El Segundo-based Northrop Grumman, the nation’s largest shipbuilder, to provide the electronic systems and integration for the next three U.S. Navy ships in the LPD 17 class. The contract is worth $218 million and will have Raytheon supply the ships with network, voice and video systems. The LPD 17 is the U.S. Navy’s newest expeditionary and amphibious ship, Raytheon said in a statement.
Guitar Center Names Head of New Subsidiary
Westlake Village-based Guitar Center Inc. announced that Craig Johnson has been promoted to the newly created position of president and chief operating officer of the direct response subsidiary, Musician’s Friend. Johnson most recently served as executive vice president of merchandising and marketing for the same division.
Jacobs Lands U.K. Contract
Jacobs Engineering Group Inc., the second-largest engineering company in the U.S., announced a contract to provide engineering services for Total UK Ltd, Europe’s largest oil refiner. Jacobs will provide services at Total’s Lindsey Oil Refinery complex in North East Lincolnshire, U. K. The project looks to expand the facility and boost production of high-sulfur crude at the plant from 10 percent to 70 percent, the company said. The new hydrotreater complex is scheduled to start up in 2008. The value of the contract was not disclosed.
