AS “OlainFarm” has acquired 47.5% shares in the third largest Latvian pharmaceutical manufacturer SIA “Silvanols”. It is expected that another 20% or more will be acquired in the nearest future. This acquisition will allow both companies to expand their product groups and portfolio and enter and expand into new markets.
Olaine, 2013-05-02 09:41 CEST (GLOBE NEWSWIRE) -- “Over last several years OlainFarmhas made significant investments in expansion of its product portfolio, sales markets and business segments. Acquisition of Silvanols is yet another step towards vision of OlainFarm to become a leading producer of finished dosage forms and chemical products in the Baltics, whose products is well known and available throughout the world. We see a very good opportunity to increase the speed of growth by merging expertise, experience and export potential of the two companies and by creating and developing joint projects,” says Salvis Lapins, Member of the Board of AS “OlainFarm”.
Co-owner and the Board Member of SIA “Silvanols” Ieva Leimane notes that “this is a logical next step in company’s development. Having a new shareholder in Silvanols will help the company to develop faster, improve its logistical systems, and, what is particularly important, will provide new export markets for the company. I am sure and our recent experience confirms it, that our products are veru compatitive not only in Latvia but also abroad.”
Chairman of the Board of SIA “Silvanols” Viesturs Gurtlavs emphasizes that “changes that have occurred to list of company’s shareholders will facilitate inflow of new knowledge and experience into Silvanols which will be yet another boost for competitiveness of the company internationally and domestically”.
After the transaction Board Member of Olainfarm Mr. Salvis Lapins has also become a Member of Silvanols’ Board.
Sales of SIA „Silvanols” in 2012 were 1.993 million lats and the company made a net profit of 136 thousand lats.
Consolidated profit and loss statement of AS "OlainFarm" for 2012 shows that the concern has set yet another profit record as it has made a net profit of 9.75 million lats (13.88 milion euro). This represents an increase by 41% compared to 2011, when profit of AS "OlainFarm" was 6.91 million lats (9.84 million euro).
A/S OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.
Silvanols Ltd. invites you to visit Europe's largest international pharmaceutical trade fair from 10th - 13th of October in Munich, Germany
You are welcome to Silvanol's booth in the hall B5, booth H21 where you can get acquainted with the herbal medicines of the new generation.
EXPOPHARM is a leader trade fair not just in presenting the latest market trends. It also offers more information about current developments in health-care policy, because the German Pharmacists’ Congress is held at the same time. Every year EXPOPHARM are taking place in one of the Germany's city. This year trade fair will proceed in Munich.
More information about EXPOPHARM: http://www.expopharm.org/index.php
Visit company's booth 9B65 exhibition "CPhI Worldwide 2012", Madrid, Spain, 9th - 11th of October, year 2012.
For the 4th time "Silvanols" Ltd. will participate in the international pharmaceutical exhibition "CPhI Worldwide 2012".
Leading pharmaceutical industry exhibition held annually in one of Europe's cities. This year exhibition is organized in Madrid, Spain from 9th - 11th of October, year 2012.
Also this year in the exhibition Ltd. "Silvanols" will present to partners and stakeholders innovative herbal products.
Together with "Silvanols" Latvia will be represented at the exhibition by other Latvian pharmaceutical companies - "PharmIdea", "Biolars" and "Solepharm".
More information about the exhibition: www.cphi.com
See you in Madrid!
Welcome to seminar “Good Fruit” Increasing competitiveness of Estonian and Latvian food industry August 29th, 2011 Venue: Old Riga, Restaurant “Pinot”, Old Riga, Grēcinieku iela 26
Estonian and Latvian fruit and berry industries are facing similar problems today. According to various studies, locally grown fruit and berries and the related food products are very attractive to Estonian and Latvian consumers, as they are associated with higher healthiness and lower price than imported fruit. However, currently imported products strongly dominate the markets of both countries. Statistical data indicates that fruit and berry consumption in Latvia and Estonia remains considerably below EU average.
Local fruit growers and food manufacturers fail to meet the market demand largely due to market failures associated with obsolete technologies of storage and processing, resulting in shorter storage period and lower competitiveness of products. The current project introduces novel storage methodologies as well as providing upgraded infrastructure and know-how for product development for both Estonian and Latvian companies, especially SMEs.
The project establish a strong cross-border network of Estonian and Latvian leading sectorial research centers (Pure (LV), Polli (EE)) and industrial partners (Silvanols (LV), Piladzi (LV) and Berry Farming (EE)) as well as public institutions/NGOs focusing on rural development from both countries. By involving additional actors beyond the project partnership, a strong postharvest value chain was created with strong linkages to industrial, academic and public sector partners.
We invite entrepreneurs who are interested in their business development opportunities through sectorial and intersectorial collaboration to this seminar in order to look over the impacts of Project “GoodFruit” on cross border cooperation .
During the seminar:
- Project partners will share their experience
- Introduce you with the project impact on Estonian and Latvian fruit and berry industries
- Discuss the future cooperation possibilities.
10:15 – 10:30 Registration
10:30 - 10:40 Opening of the Seminar (Silvanols, Ltd., Kaspars Ivanovs)
10:40 - 10:50 What is Silvanols? (Silvanols, Ltd., Kaspars Ivanovs)
10:50 – 11:20 Cross Border Cooperation & Project “GoodFruit” (Silvanols, Ltd., Kaspars Ivanovs; Estonian University of Life Sciences, Uko Bleive)
11:20 – 11:40 Activities of Estonian University of Life Sciences and Project Results (Estonian University of Life Sciences, Uko Bleive)
11:40 – 11:55 Activities of Association Partnership of Kandava and Project Results (Association Partnership of Kandava)
11:55 – 12:10 Cofee Break
12:10 – 12:25 Activities of Pūre Horticultural Research Center and Project Results (Pūre Horticultural Research Center, Jānis Lepsis)
12:10 – 12:30 Activities of Silvanols Project Results (Silvanols, Ltd., Kaspars Ivanovs)
12:30 – 12:40 Silvanols “GoodFruit” Marketing Materials (Silvanols, Ltd., Regina Ikala)
12:40 – 12:55 “GoodFruit” Impact on Riga Regional Development (Rīgas plānošanas reģiona ES struktūrfondu informācijas centrs, Dace Grīnberga)
12:55 – 13:25 Discussions on Future Cooperation Possibilities
13:25 – 13:30 Closing of the Seminar (Silvanols, Ltd., Kaspars Ivanovs)
The second part of event
13:30 Lunch for Project’s Partners and After Seminar Discussions