Kewaunee Scientific Corporation Announces Distribution Partnership with NuAire

Rhea-AI Summary

Kewaunee Scientific Corporation (NASDAQ: KEQU) announced a distribution partnership with NuAire on August 11, 2021. This alliance expands Kewaunee's product offerings, providing customers access to NuAire's diverse laboratory equipment, while enhancing NuAire's reach through Kewaunee's established global distribution channels. Kewaunee's CEO, Thomas D. Hull III, highlighted the growing market for biosafety cabinets and the importance of integrated solutions for laboratory construction and modernization. The partnership aims to leverage the strengths of both companies to capture market opportunities.

Positive

• Partnership with NuAire enhances product offerings and distribution channels.
• Access to NuAire's portfolio expands Kewaunee's customer solutions.

Negative

• None.

STATESVILLE, N.C., Aug. 11, 2021 /PRNewswire/ -- Kewaunee Scientific Corporation (NASDAQ: KEQU), a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products, is proud to announce its partnership with NuAire, a global leader in the manufacturing and distribution of equipment for a diverse range of laboratory and pharmacy environments.  This partnership expands Kewaunee's current product offering, providing Kewaunee's customers access to NuAire's portfolio of products, while offering NuAire access to Kewaunee's market leading global distribution channels. 

"The global market for products that Kewaunee and NuAire offer continues to grow", says Thomas D. Hull III, President & Chief Executive Officer, Kewaunee Scientific Corporation.  "The biosafety cabinet market is growing rapidly due to increased investment in research and development activities requiring the safety and performance of these products.  Providing Kewaunee's customers access to NuAire's portfolio enhances our value proposition as customers are looking for partners with the capability to provide turn-key solutions when building a new laboratory or modernizing an existing facility.  The partnership is a win-win for both organizations, leveraging the strengths of two market leaders."

About NuAire

Founded in 1971, NuAire is universally recognized as one of the world's leading providers of reliable equipment for the most demanding environments, including Biosafety Cabinets, CO2 Incubators, Laminar Air Flow Workstations, Containment Ventilated Enclosures, Ultralow Temperature Freezers, General Purpose Centrifuges, Animal Transfer Stations, Animal Refuse Workstations, Restricted Access Barrier Systems, Polypropylene Fume Hoods, Polypropylene Casework, and a variety of complementary products and systems.  NuAire's website is located at https://www.nuaire.com/.

About Kewaunee Scientific

Founded in 1906, Kewaunee Scientific Corporation is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. The Company's products include steel, wood, and laminate casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin worksurfaces and sinks.

The Company's corporate headquarters are located in Statesville, North Carolina. Direct sales offices are located in the United States, India, Saudi Arabia, and Singapore. Three manufacturing facilities are located in Statesville serving the domestic and international markets, and one manufacturing facility is located in Bangalore, India serving the local and Asian markets. Kewaunee Scientific's website is located at https://www.kewaunee.com.

This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the Company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors that could significantly impact results or achievements expressed or implied by such forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to: competitive and general economic conditions and the ongoing impact of the COVID-19 pandemic, including disruptions from government mandates, both domestically and internationally; changes in customer demands; technological changes in our operations or in our industry; dependence on customers' required delivery schedules; risks related to fluctuations in the Company's operating results from quarter to quarter; risks related to international operations, including foreign currency fluctuations; changes in the legal and regulatory environment; changes in raw materials and commodity costs; and acts of terrorism, war, governmental action, natural disasters and other Force Majeure events. The cautionary statements made pursuant to the Reform Act herein and elsewhere by us should not be construed as exhaustive. We cannot always predict what factors would cause actual results to differ materially from those indicated by the forward-looking statements. Over time, our actual results, performance, or achievements will likely differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, and such difference might be significant and harmful to our stockholders' interest. Many important factors that could cause such a difference are described under the caption "Risk Factors," in Item 1A of our Annual Report on Form 10-K for the fiscal year ended April 30, 2020, which you should review carefully, and in our subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. These reports are available on our investor relations website at www.kewaunee.com and on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Donald T. Gardner III
704/871-3274

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SOURCE Kewaunee Scientific Corporation

FAQ

What is the recent partnership announcement by Kewaunee Scientific Corporation?

Kewaunee Scientific Corporation announced a distribution partnership with NuAire to enhance their product offerings and expand their distribution capabilities.

How does the partnership with NuAire benefit Kewaunee Scientific Corporation?

The partnership allows Kewaunee to offer NuAire's laboratory equipment to its customers, improving its value proposition in the market.

What impact does Kewaunee's partnership with NuAire have on the stock KEQU?

The partnership could potentially enhance market opportunities and revenue for Kewaunee Scientific, impacting stock performance positively.

When was the Kewaunee Scientific Corporation and NuAire partnership announced?

The partnership was announced on August 11, 2021.