U.S. Senator Charles Schumer (D–N.Y.) has urged the top official at Danaher Corp. to “protect” 650 existing jobs the Pall Corp. plant in Cortlandville.
Schumer delivered his message in a phone call to Thomas Joyce, Jr., CEO of Danaher, the senator’s office said in a news release issued Tuesday.
Washington, D.C.–based Danaher (NYSE: DHR) on May 13 announced a “definitive merger agreement” with Pall (NYSE: PLL), acquiring the firm for about $13.8 billion, or $127.20 per share in cash, according to a news release on the Danaher website.
Danaher expects to complete the transaction by the end of the year.
After the acquisition announcement, many “locals” expressed concerns that it could mean job losses, Schumer’s office said.
In his call with Danaher’s Joyce, Schumer talked about the importance of both the Cortlandville production facility and the headquarters in Port Washington, on Long Island.
The Democrat “encouraged” Danaher to not only protect the jobs at those facilities, but also to continue to look for ways to grow the company.
“I spoke directly with Danaher CEO Thomas Joyce, and urged him to protect these important jobs in Cortland County. These jobs are vital to the local community and economy and the employees at Pall Corp were a key driver in the company’s success over the years, and should continue to remain a critical part of Danaher’s company after the acquisition is complete,” Schumer said in the news release. “The bottom line is that Pall Corporation makes a world-class filtration product with a bright future and very strong upside growth potential. The good news is that … Mr. Joyce shares that view and also thinks this company has a bright future. My point to him is that we must build on the jobs here in Cortland … and hopefully even expand them. He heard me loud and clear.”
Pall is a provider of filtration, separation, and purification products that remove contaminants or separate substances from a variety of solids, liquids, and gases.
Danaher designs, manufactures and markets professional, medical, industrial and commercial products and services, according to its 2014 annual report. Its business consists of five segments, including test & measurement, environmental, life sciences & diagnostics, dental, and industrial technologies.
Danaher generated $19.9 billion in revenue during 2014, according to its release.
Contact Reinhardt at ereinhardt@cnybj.com
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