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March 12, 2012
07:26 EDTMOCOMocon to acquire PBI-Dansensor A/S
MOCON announced that it has signed an agreement to acquire PBI-Dansensor A/S of Ringsted, Denmark, a privately-held leading manufacturer of specialized instrumentation for Modified Atmosphere Packaging of foods, beverages, pharmaceuticals, and other perishable items. In 2011, Dansensor recorded sales of approximately $19.3M. The acquisition agreement contains customary closing conditions, and MOCON expects the closing to occur on or about April 2, 2012. Under the terms of the acquisition agreement, MOCON will pay an aggregate amount of approximately $20,000,000, two-thirds of which will be paid in cash at closing, and the remainder of which will be paid over four years pursuant to a seller note. Although MOCON cannot finalize the purchase price allocation until the closing and thus cannot yet assess the exact expected impact on its 2012 GAAP earnings, MOCON anticipates that the transaction will be slightly dilutive to its GAAP earnings in 2012 due to, among other things, the expected level of transaction-related charges. The transaction is expected to be accretive to EPS on a GAAP basis in 2013 and thereafter.
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September 10, 2014
16:07 EDTMOCOMocon CFO Darrell Lee retiring and succeeded by Elissa Lindsoe
Mocon vice president, treasurer and CFO Darrell Lee will retire at the beginning of October, after nearly ten years with the company. Elissa Lindsoe, former CFO of Galil Medical, has been appointed vice president, treasurer and CFO effective October 6, reporting to chairman, president and CEO Bob Demorest. Lee will stay on with the company through October 31, to aid with the transition of duties.

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