PlasmaSelect AG / Restructure of Company/Strategic Company Decision
09.09.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Munich, 08.09.2008 PlasmaSelect AG is continuing to drive its strategic
reorientation into an investment holding company focusing on health care
and new technologies. Within the scope of structural and strategic measures
necessary for the change, the management of TheraSelect GmbH, a wholly
owned subsidiary of PlasmaSelect AG, has taken the decision to close
TheraSelect's Marburg production plant in the second quarter of the next
fiscal year. This closure and the accompanying provisions securing product
availability for the sales companies represent a further milestone in
PlasmaSelect AG's restructuring of its remaining pharmaceutical segment
which began in 2007.
The transformation of PlasmaSelect AG from a group holding company with
operations in the healthcare sector to an investment holding company
pursues the management team's goal of preparing the ground for further
profitable growth. Key criteria here involve the individual assessment of
future growth and profitability expectations for the companies in
PlasmaSelect's investment portfolio. The strategic repositioning enables
the executive board to respond flexibly and promptly to changes in global
markets and thus secure the sustainable business success of individual
holdings when they are freed from the constraints of a group-oriented value
chain.
The announced closure of the Marburg production plant is a further
forward-leading step towards this goal, which will strengthen the
pharmaceutical segment's competitive edge over the long term and create a
foundation for strategic further development. Approximately eighty staff
will be affected by the closure, which will take place in two phases and
conclude with the plant's full closure in the second quarter of the next
fiscal year. Production of Haemaccel® for the Indian Piramal Healthcare
Group will be discontinued at that point, while bottlepack production will
be transferred to a contract producer from February 2009.
Writeoffs generated by the measures were largely taken into consideration
in the last annual accounts, while further one-off effects from the closure
will be considered in the results of the current fiscal year. The
management anticipates extraordinary expenditures of around 1.3 million
for the discontinued sector. In addition to the measures already taken by
PlasmaSelect in its pharmaceutical segment, the Marburg plant closure will
lead to an operational break-even for 2009 and positive EBIT in the
following years as the plant's ongoing losses cease to burden results.
PlasmaSelect AG
Founded in 1998 as a specialist in the sale of infusion and irrigation
solutions and complementary medical products, today PlasmaSelect AG is an
innovative investment holding company on the healthcare new technologies
market. The holding comprises five operating investment holding companies
with a total of almost 300 staff worldwide. In fiscal 2007 (as of 30
November 2007) the company reported consolidated sales of EUR 56.2 million.
PlasmaSelect AG is listed on the Regulated Market (Prime Standard) of the
Frankfurt Stock Exchange (securities ID 547 180). For more information
please see www.plasmaselect.de
DGAP 09.09.2008
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Language: English
Issuer: PlasmaSelect AG
Pettenkoferstraße 22
80336 München
Deutschland
Phone: +49 (0)89 810 29-0
Fax: +49 (0)89 810 29-111
E-mail: info@plasmaselect.de
Internet: www.plasmaselect.de
ISIN: DE0005471809
WKN: 547180
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-News: PlasmaSelect AG steps up pace of reorientation as investment holding company - Production plant of TheraSelect GmbH in Marburg to close
| Source: EQS Group AG