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For immediate release
Feb. 21, 2006
m·u·t GmbH opens U.S. subsidiary at the Virginia BioTechnology Research Park
Richmond, Va. – The Virginia BioTechnology Research Park recently welcomed its newest tenant, m·u·t America, Inc., the U.S. subsidiary of parent company, m·u·t GmbH based in Hamburg, Germany.
m·u·t , which stands for “market-driven understanding of technology,” creates products in the field of spectroscopy, laboratory automation, aviation technology and early fire detection. “Photonics,” the combination of optics and electronics, is the company’s core technology.
The Richmond office will help m·u·t serve its existing customers more efficiently and capitalize on new business opportunities. According to Heino Pruess, CEO of m·u·t, the parent company’s business model will be transferred to the States with adaptations for the needs of the U.S. market. The U.S. office will focus on the local market but also support the global presence and marketing strategy of m·u·t.
“The subsidiary in Richmond will develop from a sales and service office to an American version of our German based company, with R&D staff and manufacturing,” said Pruess. “We expect a growth rate similar to those from m·u·t GmbH and m·u·t Asia, which are about 20 to 30 percent per year.”
m·u·t began considering Richmond as a location for their U.S. subsidiary after meeting with representatives from the Greater Richmond Partnership, Inc. in mid-2005 during a trade show in Nuremberg, Germany. Initial discussions lead Pruess and his collogues to visit Richmond and the Virginia BioTechnology Research Park numerous times. m·u·t announced their location decision in early January.
“The growing number of German companies in the Greater Richmond area, particularly in the biosciences industry, is a great indicator of our favorable international reputation,” said Greg Wingfield, president of Greater Richmond Partnership, Inc. “Over the past ten years, the growth of the local industry and the success of the Virginia BioTechnology Research Park have made the Greater Richmond area a major player in the life sciences.”
m·u·t joins more than 50 other biosciences companies, research institutes affiliated with Virginia Commonwealth University, major state and national medical laboratories, and nonprofit organizations located at the Virginia BioTechnology Research Park.
As a gesture to the local community, m·u·t also has donated a TRISTAN 4 spectrometer, to VCU. The spectrometer, which was accepted by Dr. Robert Mattauch, dean of the VCU School of Engineering, will be used for both research and teaching purposes. “We look forward to working closely with m·u·t, as a future employer of our students, and as an important industry partner,” Mattauch stated.
Contact:
Nicky Colomb
Virginia BioTechnology Research Park / Greater Richmond Partnership
Phone: (804) 828-6884
E-mail: ncolomb@vabiotech.com
Web site: www.vabiotech.com / www.grpva.com
Sven Johannsen
m·u·t GmbH,
Phone: +49 (0)4103 9308-435,
E-mail: sjohannsen@mut-gmbh.de
Web site: www.mut-gmbh.de
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