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Based in Center Valley, PA, Avantor, Inc. (NYSE: AVTR) is a global leader in providing mission-critical products and services to customers in diverse industries such as life sciences, healthcare, education and government, as well as advanced technologies and applied materials. Avantor's portfolio includes high-performance chemistries and materials marketed under reputable brand names such as J.T.Baker®, Macron Fine Chemicals™, Rankem™, BeneSphera™, and POCH™. The company's offerings span materials and consumables, equipment and instrumentation, as well as services and specialty procurement.
Operating across three geographical segments—Americas, Europe, and AMEA—Avantor generates a majority of its revenue from the Americas. Recent strategic initiatives include a partnership with Tobin Scientific to support end-to-end biopharma logistics, enhancing Avantor's ability to provide cold chain and ambient storage solutions for lab relocations and sample transport. This collaboration ensures current Good Manufacturing Practice (cGMP) compliance and aims to streamline complex logistics, thereby allowing customers to focus on advancing their research.
In addition to its commitment to operational excellence, Avantor is making strides in sustainability. The company recently introduced an innovative packaging system that optimizes product-to-package ratios, significantly reducing shipping material usage. This system has already saved thousands of pounds of filler material, exemplifying Avantor's dedication to eco-friendly practices.
Financially, Avantor reported net sales of $1.72 billion for Q3 2023, a 7.3% decline compared to the previous year, largely due to organic sales dips and COVID-19 headwinds. Despite these challenges, Avantor achieved more than 110% free cash flow conversion, facilitating ongoing debt reduction. The company also reaffirmed its FY2023 guidance, underscoring its confidence in long-term growth prospects by implementing a new operating model and advancing a $300 million cost optimization initiative.
Avantor’s global footprint gives it access to over 300,000 customer locations in 180+ countries, thereby positioning it as a crucial partner in facilitating scientific breakthroughs and innovation. For more information, visit avantorsciences.com.
Avantor, Inc. (NYSE: AVTR) has opened a new single-use logistics hub in Westminster, Massachusetts, enhancing its global biopharma supply chain. This facility, located near the existing manufacturing site in Devens, will streamline raw material storage, quality control, and distribution, enabling better support for the increasing demand for single-use solutions. In 2021, Avantor invested significantly in its single-use capabilities, including acquisitions like RIM Bio and Masterflex. The Westminster site marks Avantor's sixth U.S. location dedicated to single-use solutions, reinforcing its commitment to the biopharmaceutical industry.
Avantor, Inc. (NYSE: AVTR), a major player in mission-critical products for life sciences, will attend the 40th Annual J.P. Morgan Healthcare Conference on January 10, 2022. CEO Michael Stubblefield will share insights on the company's priorities starting at 9:45 a.m. PT. A live webcast will be available on the investors section of their website, with a replay accessible until February 10, 2022. Avantor serves a vast customer base, facilitating research and production activities globally, aimed at advancing critical industries.
Avantor, a prominent global provider of critical products and services, will participate in a virtual fireside chat at the Evercore ISI 4th Annual HealthCONx Conference on December 1, 2021. The session, featuring President and CEO Michael Stubblefield, is scheduled to begin at 8:50 a.m. Eastern Time. Investors can access the live webcast through Avantor's website, with a replay available until December 31, 2021. Avantor serves over 225,000 customers in more than 180 countries, playing a vital role in research and development across various industries.
Avantor (NYSE: AVTR) has successfully completed its acquisition of the Masterflex bioprocessing business from Antylia Scientific, enhancing its capabilities in aseptic fluid transfer for bioproduction. This strategic move aims to strengthen Avantor's offerings in the growing biopharma market, particularly in the manufacturing of therapies and vaccines, including COVID-19. The acquisition received all necessary regulatory approvals and is expected to provide comprehensive solutions to complex bioproduction challenges.
Avantor, Inc. (NYSE: AVTR) reported robust financial performance for Q3 2021, with net sales reaching $1.83 billion, a 14.3% increase year-over-year. The company achieved double-digit revenue growth and significant margin expansion, resulting in a net income of $156.8 million, a turnaround from a loss of $42.2 million in Q3 2020. Adjusted EBITDA rose 25.8% to $359.2 million. The company is poised for further growth, highlighted by the pending Masterflex acquisition and improved guidance for full-year results.
Avantor, Inc. (NYSE: AVTR) has opened a new single-use facility in Hillegom, Netherlands, in early October 2021. This facility, the company's second in Europe, enhances its cleanroom capacity and aims to support the growing demand for bioproduction. Located strategically between Amsterdam and Leiden, it will manufacture and deliver single-use solutions for all stages of biologics manufacturing.
Avantor's global footprint also includes facilities in the U.S. and China, and it has plans to acquire Masterflex®, further strengthening its offerings in bioproduction.
Avantor, a leading global provider of mission-critical products, has declared a quarterly cash dividend of $0.78 per share on its 6.250% Series A Mandatory Convertible Preferred Stock, effective November 15, 2021. The dividend represents a 1.560% yield and is payable to shareholders on record as of November 1, 2021. This initiative underscores Avantor's commitment to returning value to shareholders amidst its operational developments in the life sciences and advanced technologies sectors.
Avantor (NYSE: AVTR) announced the pricing of an $800 million private offering of 3.875% Senior Notes due November 1, 2029. The offering is expected to close on October 26, 2021, and the funds will be used to finance the acquisition of the Masterflex bioprocessing business from Antylia Scientific, along with associated fees. The Notes are being offered to qualified institutional buyers in a private transaction under exemption provisions of the Securities Act. This press release contains forward-looking statements subject to risks and uncertainties.
Avantor (NYSE: AVTR) has announced a private offering of senior notes by its subsidiary, Avantor Funding, Inc., to finance the acquisition of Masterflex bioprocessing and related assets from Antylia Scientific. The offering will be limited to qualified institutional buyers and will utilize proceeds from the notes, along with other financing sources. This strategic move aims to enhance Avantor's capabilities in the life sciences sector. The notes will not be registered under the Securities Act, emphasizing their private nature.
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