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March 25, 2002
Millipore Enhances Health Through Its Products, Employment, Environmentalism, and Philanthropy
    by William Baue

This bioscience company's above-average social and environmental performance sets it apart from competitors.


Millipore Corporation (ticker: MIL), a Massachusetts-based bioscience company, develops and produces new therapeutic drugs that enhance health and quality of life. It also manufactures contaminant filters that protect the environment. Millipore has also reduced its pollution emissions and has received recognition for treating its employees well. Financially, Millipore generated revenue growth of 13 percent in local currency over 2001.

"2001 was a very good year for Millipore, capped by a strong fourth quarter," said Millipore President and CEO Fran Lunger. "Geographically, our revenue growth was broad-based with double-digit growth in all regions in local currency--for the fourth quarter and for the year. We achieved our 2001 results while successfully separating out our microelectronics business as an independent company, now called Mykrolis (MYK)."

A year ago, Millipore's stock price fell to $44.82 after starting the year 2001 hovering around $60. Over the past year, the price bounced between the low $50s and the mid-$60s before falling back into the mid-$40s this month after paying a $6.56 cash dividend on February 28. Millipore closed at $43.89 today.

Millipore's financial performance benefits from the strength of the biosciences sector. The company's technology has found its way into a wide variety of medical applications, from protein sample preparation to vaccine sterilization to monoclonal antibody production.

Millipore has been praised for its progressive employment policies. In 2000, Millipore earned a spot for the fourth time on Working Mother magazine's list of the "100 Best Companies" in supporting workers with families. Millipore Director of Communications Tom Anderson predicted that Millipore would have made the list yet again this past year if the magazine had not folded.

Millipore actively promotes women into its upper ranks--at the time of the last Working Mother list, the company had three female senior executives and two women on its board of directors. Millipore also offers 12 weeks of paid maternity leave and 4 paid weeks for new fathers, as well as such other benefits as flexible work arrangements and child/elder care resources.

"We fully support the need for our employees to have a balance between their work and personal lives," said then-Chairman and CEO C. William Zadel. "It's not only a good thing to do; it's good for our business, too. We want to attract and retain the best employees."

While Millipore has had difficulties with waste issues in the past, it has taken a number of steps to make its operations more sustainable. The U.S. Environmental Protection Agency named Millipore a WasteWise Champion in 2001 for reducing waste at its U.S. and Puerto Rico facilities. The Governor of New Hampshire granted Millipore the Award for Pollution Prevention in acknowledgment of environmental initiatives at its Jaffrey, New Hampshire plant.

Millipore's worldwide operations recycled 44 percent of solid waste generated last year and reduced chemical emissions by 10 percent. Millipore has reduced overall chemical emissions by more than 72 percent since 1990, according to its annual report.

Millipore also exercises philanthropic efforts within its company and its communities. The Millipore Foundation, established in 1985, supports scientific and technological advancement as well as the improvement of local communities where the company operates. The foundation made contributions of more than $1.4 million to 142 organizations and programs for fiscal 2001, marking a record year in donations.

Examples of the foundation's work include two $20,000 college scholarships awarded in 2001 to children of Millipore employees through the Millipore Foundation Scholarship Program. In 2000, the foundation donated a laboratory incubator to the New England Aquarium Marine Animal Rescue Team to help rehabilitate the threatened species of harbor porpoises.

 

 
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