PLIVA Divests AWD Manufacturing Plant
PLIVA d.d. announced today that its German subsidiary AWD.pharma GmbH & Co. KG signed an agreement with the Menarini Group of Italy, for the divestment of its manufacturing plant in Dresden, Germany. The sale of the German facility reflects a key step in the process of optimizing PLIVA's manufacturing asset base and consolidation of production, which was announced at the end of 2004.
The closing of the transaction is expected to occur within the following six months and is subject to the completion of specific terms and conditions. Restructuring charges of USD 22m, however, mainly related to asset impairment, will be reflected in Q4 2005 results. PLIVA has already started transferring production from the AWD plant to its Eastern European facilities, which is expected to deliver savings from 2007 and should be completed by 2008. Following divestment of the manufacturing plant, AWD will continue to invest strongly in its sales and marketing activities in Germany.
Most read news
Other news from the department business & finance

Get the chemical industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.