East Hills, NY (July 29, 2005) - - Pall Corporation (NYSE: PLL) announced today a long-term agreement with the Green Cross Corporation (KSE: 006280) to exclusively purchase its leukocyte reduction filters for whole blood, red cells, platelets and plasma. The Green Cross will integrate the Pall filters into its systems for use by the Korean Red Cross (KRC), the sole supplier of blood products to Korean hospitals.
The Green Cross Corporation is the leading supplier of blood processing bags and systems to the KRC, which collects approximately 2.5 millions units of blood annually. Financial terms of the agreement were not disclosed.
"Helping to provide the safest blood possible in Korea is a key component of our mission as a total healthcare company," says IL-Sup Huh, Ph.D., Vice Chairman, Green Cross Corporation. "Our agreement with Pall, the world leader in quality, innovation and efficiency in blood filtration technology, helps bring us closer to that goal."
"We are gratified that the Green Cross selected us to provide these filters," says Noriaki Kawata, President, Asia Life Sciences, Pall Corporation. "Their first-class reputation and solid relationship with the KRC helps ensure that the Korean people will receive the optimal blood safety benefits that leukoreduction can provide."
Leukoreduction is the removal of contaminating white blood cells from blood products. Korea, like many other nations around the globe, is moving toward universal leukocyte reduction of all blood products prior to transfusion.
Pall developed leukocyte reduction filters in the late 1980s and is the leading provider of these technologies worldwide. Its filters continue to play a pivotal role in improving patient outcomes and controlling healthcare costs. The Company offers the broadest portfolio of filtration technologies which provides its customers with maximum flexibility in the manufacturing of life-saving blood products.
About Pall Corporation Pall Corporation is the global leader in the rapidly growing field of filtration, separations and purification. Pall's business is organized around two broad markets: Life Sciences and Industrial. The Company provides leading-edge products to meet the demanding needs of customers in biotechnology, pharmaceuticals, transfusion medicine, semiconductors, water purification, aerospace and broad industrial markets. Total revenues for fiscal 2004 were $1.8 billion. The Company headquarters are in East Hills, New York with extensive operations throughout the world. Visit Pall at http://www.pall.com/.
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Forward Looking Statements This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current Company expectations and are subject to risks and uncertainties which could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to: fluctuations in foreign currency exchange rates; regulatory approval and market acceptance of new technologies; changes in product mix and product pricing and in interest rates and cost of raw materials; the Company's success in enforcing its patents and protecting its proprietary products and manufacturing techniques and its ability to achieve the savings anticipated from its cost reduction initiatives; global and regional economic conditions and legislative, regulatory and political developments; and domestic and international competition in the Company's global markets. Additional information regarding these and other factors is available on the Web at http://www.pall.com/ and is included in the Company's reports filed with the U.S. Securities and Exchange Commission. Copies of such reports can be obtained, without charge, at http://www.sec.gov/.
Management uses certain non-GAAP measurements to assess Pall's current and future financial performance. The non-GAAP measurements do not replace the presentation of Pall's GAAP financial results. These measurements provide supplemental information to assist management in analyzing Pall's financial position and results of operations. Pall has chosen to provide this information to facilitate meaningful comparisons of past, present and future operating results and as a means to emphasize the results of on-going operations.
Pictured in the photo from left to right, top to bottom are: Dae-Woo Park, The Office of Chief of Planning & Strategy Director, GCC*; Yeon Moon Sung, Korea Life Sciences General Manager, Pall; Jong Kuk Kim, Korea Country Manger, Pall; Kyo Chul Shin, Korea Medical Sales Manager, Pall; Jung Ho Kim, Planning & Strategy Manger, GCC; Jae-Hoe Huh, Executive Vice President, GCC; IL-Sup Huh, Ph. D., Vice Chairman, GCC; Noriaki Kawata, Asia Life Sciences President, Pall; Enver Varka, Asia Medical Vice President, Pall.
*GCC: Green Cross Corporation
Media Contact Marcia Katz Director of Public Relations Telephone: 516-801-9851 Fax: 516-484-3649 Email: firstname.lastname@example.org