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<p align="center"><b>PLIVA divests Lachema's non-core operations in Blansko</b></p> |
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<p>PLIVA d.d. ('PLIVA') announced today that it has signed an agreement with Synthon |
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s.r.o., subsidiary of the Dutch firm Synthon BV, regarding the sale of Lachema's |
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non-core operations in Blansko, Czech Republic.</p> |
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<p> The total value of the transaction is expected to amount to CZK 40 million, |
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or USD 1 m. With the sale of the Blansko operations, PLIVA will further reduce |
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its total workforce by 82 employees, bringing the total number of job reductions |
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at Lachema to 150 since the acquisition. The disposal will have a neutral impact |
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on PLIVA Group results, as PLIVA's consolidated statements already reflect the |
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fair value of the Blansko operations. At the time of Lachema's acquisition, |
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PLIVA made an assessment of the difference between the book and fair value of |
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the Blansko operations, consolidating this amount as goodwill. </p> |
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<p>Lachema, one of the leading Czech pharmaceutical companies, was acquired by |
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PLIVA in November 1999, in part for its strength in the development, manufacturing |
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and marketing of cytostatics. As part of the acquisition, PLIVA also inherited |
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Lachema's two non-core plants in Blansko and Neratovice, stating its intention |
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to divest them in the future. Blansko activities specialise in fine chemicals, |
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including their manufacture and preparation, as well as the production of diazographic |
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paper and related materials. In 1999, total respective sales amounted to about |
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CZK 70 m. </p> |
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<p>With the sale of the Blansko and yeast operations earlier this year, PLIVA |
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has started on its path of divesting non-core businesses. These actions highlight |
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PLIVA's commitment to its strategy of focusing on its core competencies. </p> |
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<p>For further information, please contact: </p> |
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<p>Erika Kaspar <br> |
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Vice President, Communications and Corporate Affairs <br> |
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Tel: 385 1 6120 755<br> |
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Fax: 385 1 6114 413<br> |
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E-mail: <a href="mailto:erika.kaspar@pliva.hr">Erika.Kaspar@pliva.hr</a></p> |
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<p> Marija Mandic <br> |
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Financial Analyst<br> |
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Tel: 385 1 6160 355<br> |
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Fax: 385 1 6120 634 <br> |
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E-mail: <a href="marija.mandic@pliva.hr">Marija.Mandic@pliva.hr </a></p> |