Emitents | Olainfarm, AS (213800WCG52W62ENOP27) |
Veids | Būtiski notikumi |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2016-05-12 12:49:17 |
Versijas komentārs | |
Teksts |
Today, on May 12, 2016, Valerijs Maligins, Chairman of the Board of AS Olainfarm and Ludmila Cecotkina and Irina Vinvalka, co-owners of SIA Tonus Elast, signed an agreement whereby Olainfarm acquired 100% shares in the above producer of elastic medical products. Value of the transaction was 14 million euros, and during the few coming days it will be registered in Latvian Company Register. Dace Mihnenoka, Chairwoman of Board of SIA Tonus Elast will keep her position.
“We know Tonus Elast very well since 2010, when we were
representing them in Ukraine. We appreciated high quality of their
products and witnessed considerable demand. It was then when
we saw that the company has significant exporting potential to
other markets as well and identified it as an acquisition target.
Tonus Elast, similarly to Olainfarm has demonstrated significant
development over the last several years and we think that with our
marketing and expansion experience we can even better utilize
potential that Tonus Elast has. And last, but definitely not
least, products of Tonus Elast will fit extremely well in
pharmacies of Latvijas Aptieka chain,” says Valerijs Maligins,
Chairman of Olainfarm’s Board.
Ludmila Cecotkina, co-owner of SIA Tonus Elast emphasizes: “there
was quite a significant interest to acquire Tonus Elast: it was
being looked at by companies from Russia, Poland, Germany and
Latvia. We are happy that we agreed with Olainfarm, because
the company my husband created more than 20 years ago and cherished
all this time will be preserved and its development will continue
here in Latvia. Olainfarm has proven its ability to
successfully develop its daughter companies. We hope, that Tonus
Elast, being the youngest of daughters will grow fast and will be
even more known to the world than now “.
“By joining the group of Olainfarm Tonus Elast obtains new
possibilities for development. That means not only investments, but
also experienced colleagues to cooperate with at entering new
markets and developing new products and also the feeling of being a
part of the Baltic pharmaceutical leadership. More details
about the new products that we are working on will be available
closer to the end of the year. What I can tell you right now
for sure is that we are expecting significant sales growth to
Russia and Ukraine in a very near future,” says Dace Mihnenoka,
Chairwoman of the Board of SIA Tonus Elast.
SIA Tonus Elast was established in 1995 and is producing elastic
medical products from elastic bandages to very complicated corset
structures for pregnant and lactating women. Production site of SIA
Tonus Elast meets all the standards of a modern producer of medical
products, which is proven by LVS EN ISO 9001:2009 certificate.
Product portfolio of SIA Tonus Elast includes more than 100
different types of products. Best sold of them are bandages
and compression products. On average about 11.2 million units
are produced on production site of Tonus Elast in Nica
County. About 11% are sold locally in Latvia, while 89% are
being exported. The main markets are CIS countries, EU, India
and the Middle East. In Latvia, products of Tonus Elast are
available from company stores in Riga, Liepaja, Daugavpils and
Ventspils, as well as in several pharmacies and internet shopping
sites.
Tonus Elast employs a little more than 200 people, which makes this
company the biggest taxpayer and employer in Nica County.
According to unaudited reports, in 2015 sales of Tonus Elast were
7.3 million euros, while net profit reached 1.7 million euros.
Group of Olainfarm consists from its parent company AS Olainfarm,
pharmacy chain SIA Latvijas Aptieka and SIA Kiwi Cosmetics,
producer of eco cosmetics. AS Olainfarm also owns 96.69% shares in
SIA Silvanols, the leading Latvian producer of food
supplements.
JSC Olainfarm is one of the
biggest pharmaceutical companies in Latvia with more than 40 years
of experience in production of medication and chemical and
pharmaceutical products. A basic principle of company's operations
is to produce reliable and effective top quality products for
Latvia and the rest of the world. Products made by the Group are
being exported to more than 35 countries of the world, including
the Baltics, Russia, other CIS, Europe, Asia, North America and
Australia. Information prepared by: |
Pielikumi |
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