<PAGE>1
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 11-K
ANNUAL REPORT
Pursuant to Section 15(d) of the Securities Exchange Act of 1934
----------------------------------------------------------------
For the fiscal year ended December 31, 1994
Commission File No. 0-14139
A: Full title of the Plan:
VWR CORPORATION INVE$TOR TAX SAVINGS INVESTMENT PLAN
B: Name of issuer of the securities held pursuant to the plan and the address
of its principal executive office:
VWR CORPORATION
Goshen Corporate Park West
1310 Goshen Parkway
West Chester, PA 19380
<PAGE>2
REQUIRED INFORMATION
VWR CORPORATION INVE$TOR TAX SAVINGS INVESTMENT PLAN
Financial Statements, Schedules, and Exhibits
December 31, 1994
Financial Statements and Schedules PAGE
Report of Independent Auditors............................................4
Statements of Net Assets Available for Benefits...........................5
Statements of Changes in Net Assets Available for Benefits ..............6
Notes to Financial Statements.............................................7
Supplemental Schedules
Schedule I--Assets Held For Investment.................................14
Schedule II--Reportable Transactions...................................16
Exhibits
Consent of Independent Auditors..........................................17
<PAGE>3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
VWR CORPORATION
---------------
(Registrant)
Date: June 28, 1995 BY (SIGNATURE)
Walter S. Sobon
Vice President Finance
(Principal Financial Officer)
<PAGE>4
REPORT OF INDEPENDENT AUDITORS
VWR Pension Plan Committee
VWR Corporation Inve$tor Tax Savings Investment Plan
We have audited the accompanying statements of net assets available for
benefits of the VWR Corporation Inve$tor Tax Savings Investment Plan (the
Plan) as of December 31, 1994 and 1993, and the related statements of
changes in net assets available for benefits for the years then ended.
These financial statements are the responsibility of the Plan's management.
Our responsibility is to express an opinion on these financial statements
based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the net assets available for benefits of the Plan
at December 31, 1994 and 1993, and the changes in its net assets available
for benefits for the years then ended, in conformity with generally
accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the
financial statements taken as a whole. The accompanying supplemental
schedules of assets held for investment as of December 31, 1994, and of
reportable transactions for the year then ended, are presented for purposes
of complying with the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act
of 1974, and are not a required part of the financial statements. The
supplemental schedules have been subjected to the auditing procedures
applied in our audits of the financial statements and, in our opinion, are
fairly stated in all material respects in relation to the financial
statements taken as a whole.
Philadelphia, Pennsylvania
June 9, 1995
BY (SIGNATURE)
ERNST & YOUNG LLP
<PAGE>5
VWR CORPORATION INVE$TOR TAX SAVINGS INVESTMENT PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31,
1994 1993
---- ----
ASSETS
Investments, at fair value $16,453,386 $16,895,563
Dividends receivable 21,130 44,735
Receivable-Miscellaneous 4,695
---------- ----------
TOTAL ASSETS 16,479,211 16,940,298
LIABILITIES - Miscellaneous 17,673 35,309
--------- ----------
NET ASSETS AVAILABLE FOR BENEFITS $16,461,538 $16,904,989
=========== ===========
See notes to financial statements.
<PAGE>6
VWR CORPORATION INVE$TOR TAX SAVINGS INVESTMENT PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Year Ended December 31,
1994 1993
---- ----
ADDITIONS:
Investment income:
Interest $ 104,465 $ 74,034
Dividends 168,664 168,222
---------- ----------
273,129 242,256
Contributions to the Plan:
Employee 2,131,203 1,762,042
Employer 527,273 639,028
Employee rollovers 235,856 159,101
--------- ----------
3,167,461 2,802,427
DEDUCTION:
Payments to participants 1,529,431 559,875
--------- ----------
1,638,030 2,242,552
Net appreciation/(depreciation) in fair
value of investments (2,081,481) 555,692
--------- ----------
INCREASE/(DECREASE) IN NET ASSETS (443,451) 2,798,244
Net assets available for benefits at
beginning of year 16,904,989 14,106,745
---------- ----------
NET ASSETS AVAILABLE FOR BENEFITS
AT END OF YEAR $16,461,538 $16,904,989
=========== ===========
See notes to financial statements.
<PAGE>7
VWR CORPORATION INVE$TOR TAX SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
December 31, 1994
NOTE A -- SIGNIFICANT ACCOUNTING POLICIES
Valuation of Investments: Investments are stated at fair value. Securities
traded on a national securities exchange, and government securities are
valued at the last reported sales price on the last business day of the VWR
Corporation Inve$tor Tax Savings Investment Plan (the Plan) year. The fair
value of the participation units owned by the Plan in common trust funds is
based on quoted redemption values on the last business day of the Plan year.
Administrative Expenses: Substantially all administrative expenses and trustee
fees were paid by the Plan's sponsor, VWR Corporation (VWR).
NOTE B -- DESCRIPTION OF THE PLAN
The Plan is a contributory, defined contribution investment plan for all
salaried personnel. Union employees are also eligible, provided the union also
participates in VWR's health insurance and pension plans.
Employees may contribute up to 12% of their compensation to the Plan. VWR
contributes an amount equal to 50% (after deducting VWR's health care
contribution) of each employee's contribution up to 3% of each employee's
compensation. Employees may elect to allocate a portion of their contribution
to a health care fund, to meet future medical expenses. VWR will match 100% of
any amounts that participants allocate to the health care fund, limited to 20%
of the first 3% of each employee's compensation. Depending on VWR's
profitability in any year, VWR may make an additional employer contribution on
behalf of each participant who is employed on March 31 of the following year.
The additional employer contribution shall equal a specified percentage,
determined by VWR each year, of the participant's contribution for the previous
Plan year.
Employee contributions to the Plan are invested at the discretion of
the participants in any or all of the following funds in a minimum of
1% increments: The VWR Corporation Stock Fund, the Asset Allocation Fund, the
Bond Index Fund, the Money Market Fund, the S&P 500 Stock Fund, or the U. S.
Treasury Allocation Fund (the Funds). Employer contributions are invested
solely in the VWR Corporation Stock Fund. Participants over age 55 may elect
to have employer contributions transferred from the VWR Corporation Stock Fund
to an alternative Fund. All Fund investments are managed by a trustee at the
direction of the plan administrator and the Pension Committee of the Plan.
<PAGE>8
NOTE B -- DESCRIPTION OF THE PLAN - continued
Employee contributions vest immediately while VWR's contributions vest at a
rate of 20% per year of service. Should the Plan terminate at some future
time, all assets of the Plan will be available to participants, and the
rights of all participants shall become 100% vested at that time.
Participants who are employees are eligible to borrow from their account as
limited by Section 72(p)(2) of the Internal Revenue Code and certain other
conditions as described in the Plan document. Interest is accrued at the
prime lending rate on the date of loan disbursement plus 1%.
NOTE C -- DESCRIPTION OF FUNDS
Individual accounts are maintained for Plan participants that reflect their
respective contributions and related employer contributions and any earnings
or losses on the Plan's investments.
The Plan is divided into six investment funds and a loan fund:
VWR Corporation Stock Fund: This fund invests in VWR Common Stock.
Asset Allocation Fund: This fund invests in common stocks, U. S. Treasury
bonds, and money market instruments.
Bond Index Fund: This fund invests in high-grade bonds issued by the U.S.
Government, domestic corporations, and other issuers.
Money Market Fund: This fund invests in instruments with maturities of less
than one year, including: U. S. Government and Agency obligations,
fixed time deposits, bankers' acceptances, bank obligations, short-
term corporate debt instruments, repurchase agreements, and loan
participations.
S&P 500 Stock Fund: This fund invests in substantially the same stocks in
the same proportions that comprise the S&P 500 Index itself.
U.S. Treasury Allocation Fund: This Fund invests in three types of fixed-
income securities: long-term U. S. Treasury bonds, intermediate-term
U. S. Treasury notes, and 90-day U. S. Treasury bills.
Loan Fund: This fund consists of the principal balance of loans outstanding
to plan participants.
NOTE D -- INVESTMENTS
The Plan purchased 130,665 shares of VWR Common Stock for $1,325,319 during
1994 and 108,110 shares for $1,431,128 during 1993. The Plan purchased
securities from Wells Fargo Bank, a party in interest, for $4,560,282 during
1994 and $4,318,267 during 1993.
<PAGE>9
NOTE D - INVESTMENTS (Continued)
During 1994 and 1993, the Plan's investments, including investments bought and
sold as well as held during the year, appreciated (depreciated) in fair value
as follows:
Net
Appreciation
(Depreciation) Fair Value
in Fair Value at End
During Year of Year
------------- ----------
Year ended December 31, 1994
VWR Corporation Stock Fund $(1,813,049) $ 4,586,074
Money Market Fund 1,646,370
Asset Allocation Fund (123,718) 4,443,650
Bond Index Fund (19,534) 576,126
S&P 500 Stock Fund 27,169 2,477,884
U.S. Treasury Allocation Fund (152,349) 2,063,382
Sweep Account 17,673
Loan Fund 642,227
----------- -----------
$(2,081,481) $16,453,386
=========== ===========
Year ended December 31, 1993
VWR Corporation Stock Fund $ (519,369) $ 5,485,040
Money Market Fund 1,407,991
Asset Allocation Fund 541,589 4,528,855
Bond Index Fund 47,199 529,965
S&P 500 Stock Fund 177,536 2,149,351
U.S. Treasury Allocation Fund 308,737 2,275,328
Sweep Account 14,613
Loan Fund 504,420
----------- -----------
$ 555,692 $16,895,563
=========== ===========
The fair values of individual investments that represent 5% or more
of the Plan's net assets are as follows:
December 31,
1994 1993
---- ----
VWR Corporation -- common stock $ 4,490,066 $ 5,387,048
Asset Allocation Fund 4,443,650 4,528,855
Money Market Fund 1,646,370 1,407,991
S&P 500 Stock Fund 2,477,884 2,149,351
U.S. Treasury Allocation Fund 2,063,382 2,275,328
At December 31, 1994, the Plan held 528,243 shares of VWR Corporation common
stock at a market price of $8.50 per share. On June 9, 1995, the market price
per share of VWR's common stock was $10.50.
<PAGE>10
NOTE E -- PAYMENTS TO PARTICIPANTS
Participants are entitled to their vested benefits upon termination from the
Plan. Unvested employer contributions are forfeited upon termination and
offset against employer contributions. However, if participants re-enter the
Plan within a five-year period, the unvested amount is added back to their
respective accounts upon repayment of amounts previously distributed to
participants.
NOTE F -- INCOME TAX STATUS
The Internal Revenue Service has ruled that the Plan, as amended in 1990,
qualifies under Section 401(a) of the Internal Revenue Code (IRC) and is,
therefore, not subject to tax under present income tax law. The plan
administrator believes the Plan, as amended in 1991 and 1994, also qualifies
under Section 401(a) of the IRC and has filed for a determination by the
Internal Revenue Service. Once qualified, the Plan is required to operate in
conformity with the IRC to maintain its qualification. The Pension Committee
is not aware of any course of action or series of events that might adversely
affect the Plan's qualified status.
NOTE G - - STOCK ISSUANCE AND ACQUISITION
On April 13, 1995 VWR issued and sold to EM Laboratories, Incor-
porated, ("EML") 1,818,181 Common Shares at $11.00 per share and a warrant
exercisable to purchase an additional 967,015 Common Shares at $11.00 per
share.
On May 24, 1995, VWR entered into an Asset Purchase Agreement
to acquire substantially all of the assets of Baxter Healthcare Corporation's
Industrial Distribution Business for $400,000,000. The acquisition is
expected to be financed through the issuance of 6,832,797 Common Shares
of VWR stock to EML at $12.44 per share; the exercise of the 967,015
warrants to purchase Common Shares at $11.00 per share by EML; the purchase
by EML of a $135,000,000 subordinated note payable by VWR (interest in the
first year is payable in approximately 1,411,000 shares of the VWR's
Common Stock) and proceeds from a $285,000,000 credit facility which will
replace VWR's existing credit facility.
After giving effect to the above transactions, EML's beneficial ownership
of Common Shares will be approximately 49.9%; however, pursuant to a
standstill agreement, EML cannot further increase its ownership without
the approval by a majority of the directors of VWR not affiliated
with EML. The above Common Share transactions after April 13, 1995 are
subject to shareholder approval and the aquisition is conditioned on
customary regulatory approvals and the completion of due diligence procedures.
<PAGE>11
<TABLE>
NOTE H--NET ASSETS AVAILABLE FOR BENEFITS BY FUND
December 31, 1994
<CAPTION>
Asset Bond U.S. Treasury
VWR Corporation Money Allocation Index S&P 500 Allocation Sweep
Stock Fund Market Fund Fund Fund Stock Fund Fund Account Loan Fund Total
---------- ------------ ---------- -------- ---------- ---------- ------ --------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair
value $4,586,074 $1,646,370 $4,443,650 $ 576,126 $2,477,884 $2,063,382 $ 17,673 $642,227 $16,453,386
Dividend receivable 21,130 21,130
Receivable-Miscellaneous 4,695 4,695
---------- --------- ---------- --------- ---------- ---------- ---------- -------- -----------
TOTAL ASSETS BY FUND 4,611,899 1,646,370 4,443,650 576,126 2,477,884 2,063,382 17,673 642,227 16,479,211
LIABILITIES-Miscellaneous 17,673 17,673
---------- --------- ---------- --------- ----------- ---------- ---------- -------- -----------
NET ASSETS AVAILABLE
FOR BENEFITS $4,611,899 $1,646,370 $4,443,650 $ 576,126 $2,477,884 $2,063,382 $ $642,227 $16,461,538
========== ========== ========== ========== ========== ========== ========= ======== ===========
NOTE H--NET ASSETS AVAILABLE FOR BENEFITS BY FUND
December 31, 1993
<CAPTION>
Asset Bond U.S. Treasury
VWR Corporation Money Allocation Index S&P 500 Allocation Sweep
Stock Fund Market Fund Fund Fund Stock Fund Fund Account Loan Fund Total
---------- ------------ ---------- -------- ---------- ---------- ------ --------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair $5,485,040 $1,407,991 $4,528,855 $ 529,965 $2,149,351 $2,275,328 $ 14,613 $504,420 $16,895,563
value
Dividend receivable 44,735 44,735
---------- ---------- ---------- --------- ---------- ---------- -------- -------- -----------
TOTAL ASSETS BY FUND 5,529,775 1,407,991 4,528,855 529,965 2,149,351 2,275,328 14,613 504,420 16,940,298
LIABILITIES-Miscellaneous 20,696 14,613 35,309
---------- ---------- ----------- --------- ---------- ---------- -------- -------- ----------
NET ASSETS AVAILABLE
FOR BENEFITS $5,509,079 $1,407,991 $4,528,855 $ 529,965 $2,149,351 $2,275,328 $ $504,420 $16,904,989
========== ========== ========== ========= ========== ========== ======== ======== ===========
</TABLE>
<PAGE>12
<TABLE>
NOTE I - CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS BY FUND
Year Ended December 31, 1994
<CAPTION>
VWR Money Asset Bond U.S. Treasury
Corporation Market Allocation Index S&P 500 Allocation Sweep Loan
Stock Fund Fund Fund Fund Fund Fund Account Fund Total
----------- -------- --------- ------- --------- --------- -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ADDITIONS:
Investment income:
Interest $ 7,339 $ 62,796 $ 13,086 $ 2,671 $ 7,631 $ 8,932 $ 2,010 $ $ 104,465
Dividend income 168,664 168,664
--------- -------- --------- ------- ---------- -------- ------- -------- ---------
176,003 62,796 13,086 2,671 7,631 8,932 2,010 273,129
Contributions to the Plan:
Employee 302,024 360,909 648,609 90,572 382,226 346,863 2,131,203
Employer 527,273 527,273
Employee rollovers 98,491 5,074 30,107 12,000 68,685 21,499 235,856
--------- -------- --------- ------- --------- -------- ------- -------- ---------
1,103,791 428,779 691,802 105,243 458,542 377,294 2,010 3,167,461
DEDUCTION:
Payments to participants 318,598 433,743 265,015 66,430 180,466 253,384 11,795 1,529,431
--------- -------- --------- ------- --------- -------- ------- -------- ---------
785,193 (4,964) 426,787 38,813 278,076 123,910 (9,785) 1,638,030
Loans to participants (84,208) (49,650) (119,269) (25,545) (76,493) (92,837) 448,002
Loan payments from
participants 50,214 29,056 89,538 18,274 52,215 61,113 9,785 (310,195)
Net appreciation
(depreciation) in fair
value of investments (1,813,049) (123,718) (19,534) 27,169 (152,349) (2,081,481)
Transfers among funds at
request of participants 164,670 263,937 (358,543) 34,153 47,566 (151,783)
------- -------- -------- ------- ---------- -------- ------- -------- ----------
INCREASE(DECREASE) in
NET ASSETS (897,180) 238,379 (85,205) 46,161 328,533 (211,946) 137,807 (443,451)
Net assets available for
benefits at beginning
of year 5,509,079 1,407,991 4,528,855 529,965 2,149,351 2,275,328 504,420 16,904,989
--------- --------- --------- -------- --------- --------- ------- -------- ----------
Net assets available for
benefits at end
of year $4,611,899 $1,646,370 $4,443,650 $576,126 $ 2,477,884 $2,063,382 $ $642,227 $16,461,538
========== ========== ========== ======== ========== ========== ======== ======== ===========
</TABLE>
<PAGE>13
<TABLE>
NOTE I - CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS BY FUND - CONTINUED
Year ended December 31, 1993
<CAPTION>
VWR Asset Bond U.S. Treasury
Corporation Money Allocation Index S&P 500 Allocation Sweep Loan
Stock Fund Market Fund Fund Fund Fund Fund Account Fund Total
---------- ----------- ---------- --------- --------- ---------- -------- ---- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ADDITIONS:
Investment income:
Interest $ 4,597 $ 41,400 $ 10,423 $ 1,334 $ 5,935 $ 6,247 $ 4,098 $ $ 74,034
Dividend income 168,222 168,222
--------- -------- --------- ------- ---------- -------- ------- -------- ----------
172,819 41,400 10,423 1,334 5,935 6,247 4,098 242,256
Contributions to the Plan:
Employee 170,799 239,588 599,320 86,154 337,354 328,827 1,762,042
Employer 639,028 639,028
Employee rollovers 43,116 19,958 70,946 1,001 8,450 15,630 159,101
--------- -------- --------- ------- --------- -------- ------- -------- ----------
1,025,762 300,946 680,689 88,489 351,739 350,704 4,098 2,802,427
DEDUCTION:
Payments to participants 172,212 111,672 136,298 20,579 25,098 65,401 28,615 559,875
--------- -------- --------- ------- --------- -------- ------- -------- ---------
853,550 189,274 544,391 67,910 326,641 285,303 (24,517) 2,242,552
Loans to participants (57,635) (32,471) (103,828) (17,531) (65,159) (70,658) (745) 348,027
Loan payments from
participants 30,301 21,435 68,697 8,794 39,124 41,180 25,262 (234,793)
Net appreciation
(depreciation) in fair
value of investments (519,369) 541,589 47,199 177,536 308,737 555,692
Transfers among funds at
the request of participants 1,810 (138,700) 105,007 16,952 (33,527) 48,458
------- -------- -------- ------- ---------- -------- ------- -------- ----------
INCREASE IN NET ASSETS 308,657 39,538 1,155,856 123,324 444,615 613,020 113,234 2,798,244
Net assets available for
benefits at beginning
of year 5,200,422 1,368,453 3,372,999 406,641 1,704,736 1,662,308 391,186 14,106,745
--------- --------- --------- -------- --------- --------- ------- -------- ----------
Net assets available for
benefits at end
of year $5,509,079 $1,407,991 $4,528,855 $529,965 $2,149,351 $2,275,328 $ $ 504,420 $16,904,989
========== ========== ========== ======== ========== ========== ======== ========= ===========
</TABLE>
<PAGE>14
SCHEDULE J--ASSETS HELD FOR INVESTMENT
<TABLE>
VWR CORPORATION INVE$TOR TAX SAVINGS INVESTMENT PLAN
December 31, 1994
<CAPTION>
VWR Corporation Money Asset Bond S&P 500
Stock Fund Market Fund Allocation Fund Index Fund Stock Fund
---------- ----------- --------------- ---------- -----------
Identity of Issuer, Current Current Current Current Current
Fund, or Borrower Cost Value Cost Value Cost Value Cost Value Cost Value
- ------------------- ---- ------- ---- ------- ---- ---- ---- ------ ----- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
*VWR Common Stock
528,243 shares $5,279,475 $4,490,066
*Wells Fargo Bank
Money Market Fund
132,941 units $1,646,370 $1,646,370
*Wells Fargo Bank
Asset Allocation Fund
298,632 units $3,928,071 $4,443,650
*Wells Fargo Bank
Bond Index Fund
47,811 units $538,395 $576,126
*Wells Fargo Bank
S&P 500 Stock Fund
150,631 units $2,207,160 $2,477,884
*Wells Fargo Bank
U.S. Treasury
Allocation Fund
150,283 units
Loans outstanding to
fund participants,
bearing interest
ranging from 7%
to 11.33%
*Wells Fargo
Bank Daily
Money Market Fund 52,835 52,835
Cash 43,173 43,173
---------- ---------- ---------- ---------- ---------- ---------- -------- -------- ---------- ----------
$5,375,483 $4,586,074 $1,646,370 $1,646,370 $3,928,071 $4,443,650 $538,395 $576,126 $2,207,160 $2,477,884
========== ========== ========== ========== ========== ========== ======== ======== ========== ==========
* Party in interest
</TABLE>
<PAGE>15
SCHEDULE J--ASSETS HELD FOR INVESTMENT - CONTINUED
VWR CORPORATION INVE$TOR TAX SAVINGS INVESTMENT PLAN
<TABLE>
December 31, 1994
<CAPTION>
U.S. Treasury Sweep
Allocation Fund Account Loan Fund Total
Identity of Issuer, --------------- ---------- --------- -----
Fund, or Borrower Current Current Current Current
- ------------------- Cost Value Cost Value Cost Value Cost Value
---- ------- ---- ------- ---- ------- ---- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
*VWR Common Stock
528,243 shares $ 5,279,475 $4,490,066
*Wells Fargo Bank
Money Market Fund
132,941 units 1,646,370 1,646,370
*Wells Fargo Bank
Asset Allocation Fund
298,632 units 3,928,071 4,443,650
*Wells Fargo Bank
Bond Index Fund
47,811 units 538,395 576,126
*Wells Fargo Bank
S&P 500 Stock Fund
150,631 units 2,207,160 2,477,884
*Wells Fargo Bank
U.S. Treasury
Allocation Fund
150,283 units $1,865,728 $2,063,382 1,865,728 2,063,382
Loans outstanding to
fund participants
bearing interest
ranging from 7%
to 11.33% $642,227 $642,227 642,227 642,227
*Wells Fargo
Bank Daily
Money Market Fund $ 17,673 $ 17,673 70,508 70,508
Cash 43,173 43,173
----------- ---------- -------- -------- -------- -------- ---------- ----------
$1,865,728 $2,063,382 $ 17,673 $ 17,673 $642,227 $642,227 $16,221,107 $16,453,386
========== ========== ======== ======== ======== ======== ========== ==========
</TABLE>
* Party in interest
<PAGE>16
SCHEDULE II -- REPORTABLE TRANSACTIONS
<TABLE>
VWR CORPORATION INVE$TOR TAX SAVINGS INVESTMENT PLAN
Year Ended December 31, 1994
<CAPTION>
Number Gain
Number of Total of Total (Loss)
Purchases Purchases Sales Sales on Sale
--------- --------- ------ ----- -------
<S> <C> <C> <C> <C> <C>
Category (iii) -- A series of transactions in excess of 5% of Plan Assets
- -------------------------------------------------------------------------
*VWR Corporation
Common Stock 104 $1,325,319 68 $406,463 $(16,149)
*Wells Fargo Bank
Asset Allocation Fund 84 654,311 86 615,799 73,435
*Wells Fargo Bank
S&P 500 Stock Fund 82 650,203 73 348,839 40,929
*Wells Fargo Bank
U.S. Treasury
Allocation Fund 79 451,145 88 510,743 63,154
*Wells Fargo Bank
Money Market Fund 78 843,989 71 605,610
*Wells Fargo Bank Daily
Money Market Fund 148 1,854,419 183 1,896,516
</TABLE>
There were no category (i), (ii), or (iv) reportable transactions during
the year ended December 31, 1994.
- -----------------------------------------------------------------------
* Party in interest transactions but not prohibited transactions.
[DESCRIPTION] Consents of Experts and Counsel
<PAGE>17
CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement
(Form S-8) pertaining to the VWR Corporation Inve$tor Tax Savings Investment
Plan and in the related Prospectus of our report dated June 9, 1995, with
respect to the financial statements and schedules of the VWR Corporation
Inve$tor Tax Savings Investment Plan included in this Annual Report (Form 11-K)
for the year ended December 31, 1994.
BY (SIGNATURE)
ERNST & YOUNG LLP
Philadelphia, Pennsylvania
June 27, 1995
