On May 15 JSC Olainfarm organized its Investor Conference Online Webinar for investors to inform about the company’s recent developments.
During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš informed that Olainfarm’s invesment program will reach around 26 million lats in fixed assets over the next 5 years. Part of the sum will be co-funded by the European Union funds and other sources. About 14 million lats are planned for Final dosage forms, chemical production and will allow to introduce some new products, while 7 million lats are planned to be invested in increase of company’s energy and environmental efficiency.
Also, Salvis Lapiņš informed that in nearest time the export to Ukraine will be started again, which was temporary stopped due to overshipment.
Answering the questions sent in by the investors, Salvis Lapiņš confirmed that Olainfarm is planning to acquire another 20% of Silvanols Ltd. shares in nearest weeks. Once it is done Olainfarm in total will own almost 70% of Silvanols shares, thus becoming a majority shareholder.
According to Salvis Lapiņš, currently Silvanols capacity is used for about one third, so there are improvements possible.
Also, according to Salvis Lapiņš one of the short term priorities of Olainfarm and a market to focus on is Albania. Company forecasts a significant increase of its sales to Albania. Olainfarm has also succeeded in strengthening its presence in the Lithuanian market and for future markets company is looking at Turkey, South East Asia and other countries.
The recorded Olainfarm webinar is available online: http://ej.uz/OLF2013ieraksts, and the presentation, demonstrated during the webinar, can be found in the previously published JSC Olainfarm announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=557283&messageId=687539.
Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!
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:
Member of the Board
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