LONGMONT, Colo. and LONG BEACH, Calif., March 27, 2002 (PRIMEZONE) -- Hauser, Inc. (OTCBB:HAUS) today announced that it has sold its Hauser Laboratories division to Microbac Laboratories of Pittsburgh, Pennsylvania. Terms were not disclosed.
Hauser Laboratories, located in Boulder, Colorado, provides analytical and expert services to meet the advanced chemical and material needs of biopharmaceutical, infrastructure and electronics industries. It also provides methods of development, testing and failure analysis for pipelines and cables, fuels and contaminants, and industrial and consumer products.
Kenneth Cleveland, Hauser's president and chief executive officer, said: "The sale of Hauser Laboratories is one more step in our plan to refocus on our core business of producing and marketing bulk herbal extracts and nutritional substances. We are pleased to have sold Hauser Laboratories in such a way as to preserve all jobs in that division."
Hauser, headquartered in Long Beach, California and Longmont, Colorado, is a leading supplier of herbal extracts and nutritional supplements. The company also provides interdisciplinary laboratory testing services, chemical engineering services, and contract research and development. The company's products and services are principally marketed to the pharmaceutical, dietary supplement and food ingredient businesses. Hauser's business units include: Botanicals International Extracts, Shuster Laboratories, ZetaPharm and Hauser Contract Research Organization.