Ciech Polfa to join the state-owned pharmaceutical holding next year

APA - Austria Presse Agentur
opublikowano: 21-11-2006, 11:07

Warsaw (Puls Biznesu) – Ciech Polfa, the medicine exporter, is going to join the state-owned pharmaceutical group.

Warsaw (Puls Biznesu) – Ciech Polfa, the medicine exporter, is going to join the state-owned pharmaceutical group.

Till the end of next year, Polski Holding Farmaceutyczny (PHF) will have a new member: Ciech Polfa, today owned by listed Ciech group. The three companies have recently signed a letter of intent. PHF would buy 100 percent of Ciech Polfa from Ciech and acquire its brand used abroad. Ciech Polfa would become the export unit of the holding. Today, half of its exports are generated by exports of medicines produced by Polfa Warszawa, Polfa Tarchomin and Polfa Pabianice, which belong to PHG. The main exports directions are Central Europe, the former Sovjetunion and Viet Nam.

Marcin Dobrzanski, Ciech Polfa CEO likes the idea.

„It will be easier for us to develop as part of PHF with which we have worked for long. We need each other and our operations are complementary”, Marcin Dobrzanski said.

Jerzy Milewski, PHF CEO said that the detailed itinerary of the merger has not been made yet. However, the merger is possible in the second quarter of 2007 at the earliest.

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Podpis: APA - Austria Presse Agentur

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