YORK, Pennsylvania--DENTSPLY International Inc. has announced that it has sold its dental injectable anesthetic facility and equipment located near Chicago to PIERREL S.p.A., Milan, Italy.
PIERREL is a pharmaceutical contract manufacturing and drug development company listed on the Expandi Market in Milan. PIERREL is currently a supplier of dental injectable anesthetics to DENTSPLY in certain regions of the world. DENTSPLY has also strengthened its relationship for supply of dental injectable anesthetics from PIERREL through a separate supply agreement.
The purchase price for the facility and equipment is $19.5 million, $3 million of which will be paid at the closing. The balance will be payable through rebates on the transfer price of products supplied by PIERREL to DENTSPLY under the supply agreement.
Gary Kunkle, DENTSPLY's Chairman and Chief Executive Officer stated, "We are very pleased to have sold this facility to PIERREL. We believe this sale and enhancement of our supply arrangement with PIERREL will be beneficial to both companies for many years to come."
DENTSPLY designs, develops, manufactures and markets a broad range of products for the dental market. The company believes that it is the world's leading manufacturer and distributor of dental prosthetics, precious metal dental alloys, dental ceramics, endodontic instruments and materials, prophylaxis paste, dental sealants, ultrasonic scalers, and crown and bridge materials; the leading United States manufacturer and distributor of dental handpieces, dental x-ray film holders, film mounts and bone substitute/grafting materials; and a leading worldwide manufacturer or distributor of dental injectable anesthetics,
impression materials, orthodontic appliances, dental cutting instruments and dental implants.
The company distributes its dental products in more than 120 countries under some of the most well established brand names in the industry.
