Skip to main content

Tyco International To Acquire Graphic Controls Corporation

Hamilton, Bermuda, 3rd September 1998 - Tyco International Ltd. (NYSE-TYC, LSE-TYI, BSX-TYC) (Tyco), a diversified manufacturing and service company, announced today that it has entered into a definitive agreement with Bessemer Holdings, L.P. to acquire Graphic Controls Corporation, a manufacturer of disposable medical products, for approximately $460 million in cash including the assumption of certain outstanding debt. The transaction is subject to certain conditions including the receipt of necessary government approvals.

Graphic Controls, with sales of approximately $280 million, headquartered in Buffalo, NY, is a

leading designer, manufacturer, marketer and distributor of disposable medical products used in the diagnosis, monitoring and treatment of cardiovascular and neurological ailments, childbirth, imaging, surgical procedures and infection control.

"Graphic Controls is an excellent addition to our growing disposable medical products group," said Dennis Kozlowski, Tyco's Chairman and chief Executive Officer. "Its products are very complementary to our current line of disposable medical products. The combination with Tyco Medical group will result in an immediate positive impact on our earnings."

Tyco International Ltd., a diversified manufacturing and service company, is the world's largest manufacturer and installer of fire protection systems, the largest provider of electronic security services, and has strong leadership positions in disposable medical products, packaging materials, flow control systems, electrical components, and undersea telecommunications systems. The company operates in more than 80 countries around the world and has expected annual revenues in excess of $13 billion.