MILLVILLE, N.J., November 27, 2006 /PRNewswire/ -- Alcan Global Pharmaceutical Packaging, a division of Alcan, Inc. (Montreal) announced the spin-off of its Wheaton Science Products businesses to River Associates Investments, LLC of Chattanooga, TN. River Associates is a private equity investment firm with over sixteen years investing experience in light manufacturing, distribution and service companies.
The new company, Wheaton Industries Inc. (Wheaton) will operate as the corporate entity having four divisions: Wheaton Science Products serving the scientific research and biotechnology markets and Wheaton Science Packaging serving the diagnostic and chemical reagent packaging markets in the U.S.A. and Canada, Wheaton Science International serving the scientific research and packaging markets outside the U.S.A. and Canada and Wheaton Glass Warehouse serving the technical tubing and specialty glass markets in the U.S.A.
Wheaton's management and River Associates state that "the Wheaton businesses are strong and growing. There are plans to invest in and accelerate the growth of the business to realize its full potential. Wheaton's excellent reputation in the marketplace and strong associate commitment will continue to support the strategic plans for the business."
Wheaton is led by a strong, experienced management team which will remain intact and continue to run the business after the spin-off.
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