Olaine, 2016-05-26 07:00 CEST (GLOBE NEWSWIRE) -- On May 12, 2016, AS Olainfarm signed an agreement about acquiring 100% shares in SIA Tonus Elast, producer of elastic medical products. The total price of shares was 14 million euros and AS ABLV Bank provided a loan with 10 years maturity to finance the transaction.
SIA “Tonus Elast” was established in 1995 and is a producer of elastic medical products, from elastic bandages to complicated corsets for pregnant and lactating women. Products portfolio of SIA Tonus Elast includes more than 100 different product types, bestselling of which are bandages and compression products. The main sales markets are CIS and EU countries, India and the countries of Middle East.
A little more than 200 employees are working at production site of SIA Tonus Elast in Nicas novads. The site meets all requirements of a modern producer of medical appliances, which is confirmed by LVS EN ISO 9001:2009 certificate.
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:
Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv