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STADA sells Irish production facility and thus continues to be in line with planning for the implementation of

  • 06/02/2012

Bad Vilbel, February 6, 2012 – STADA Arzneimittel AG (hereinafter "STADA"), Bad Vilbel, has signed and completed contracts today, on February 6, 2012, with the mutares Group, Munich, for the sale of the Irish production facility STADA Production Ireland Ltd. (hereinafter "SPI"), Clonmel, which has to date been a part of the STADA Group through the STADA subsidiary Clonmel Healthcare Ltd. (hereinafter "Clonmel"). The contracts were concluded retroactively to January 1, 2012.
The sale, which represents an important step in the Group-wide cost efficiency program "STADA – build the future" which was introduced in 2010 (see the Company's ad hoc release from June 7, 2010 as well as STADA's Intermin Report on the First Nine Months of 2011), results in a one-time earnings burden in the amount of approx. EUR 16.6 million before or approx. EUR 16.5 million after taxes, which will be reported by STADA in the first quarter of 2012 as a one-time special effect.
The transaction will be carried out in the form of a so-called "share deal" with which all shares in SPI and thus also conditions of employment for all of the approx. 180 employees at the facility as well as the other contractual relationships are immediately transferred to the mutares Group. In addition, as part of this transaction, the production facilities, corresponding assets as well as the property will be transferred to the buyer within the scope of a lease option model over a period of four years.
The products that are currently being produced in the Irish production facilities for the STADA Group, will continue to be produced by SPI for STADA during a transitional period.
With the sale of the Irish production facility, STADA continues to be in line with the ongoing implementation of the Group-wide cost efficiency program "STADA – build the future" (see the Company's ad hoc release of June 7, 2010); the one-time burden that has now been incurred is below the expense originally calculated within the scope of the program. In addition, the already initiated successive transfer of the production volumes from the Irish production facilities to other STADA production facilities will improve capacities there and thus reduce unit prices of the relevant products over the medium term.
About the mutares Group:
mutares AG, Munich (www.mutares.de), acquires midsized companies in whole and in part, which are sold as a result of a repositioning process at their owners and which exhibit a clear operational improvement potential. Getting engaged with its own teams, mutares actively supports its portfolio companies to generate significant value increase. The focus of the operational work is to ensure sustainable, long-term growth. The shares of mutares AG are listed at the Open Market segment of the Berlin stock exchange (symbol: MUX, ISIN: DE000A0SMSH2).
For more information, please contact:
STADA Arzneimittel AG
Corporate Communications
D-61118 Bad Vilbel
Tel.: +49 6101 603-113
Fax: +49 6101 603-506
e-mail: communications@stada.de