“OlainFarm” acquires controlling stake in “Silvanols”
AS “OlainFarm” has acquired 23.37% more shares in Latvian pharmaceutical company SIA “Silvanols”, therefore “OlainFarm” now holds controlling interest in “Silvanols”. Before that AS “OlainFarm” already owned 47.51% of the company’s shares.
“Acquisition of “Silvanols” is one of the ways for “OlainFarm” to further consolidate its positions and expand the production of medications. We see a 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 Lapiņš, a member of AS “OlainFarm” board.
AS “OlainFarm” currently owns 70.88% of the company’s shares, “Silvanols” co-owner Ieva Leimane – 15.41%, Agris Auce – 10.39%, and Sandra Ivanova – 3.31% of SIA “Silvanols” shares.
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.
SIA “Silvanols” is one of the most rapidly growing Latvian producers of medicines. In its operations SIA “Silvanols” uses modern internationally applied technologies. Products portfolio of the company consists of unique set of original products, including over-the-counter medicines, medical devices and food supplements, in total more than 70 different original products. Company is particularly proud of their original products, including market leader Faringo Spray®, anti-rhinitis gel Rinogēls® and sedative mixture of 7 different herbs Relaxen®. Currently products of the company are being exported to Lithuania, Estonia, Azerbaijan, Romania, Czech Republic, Hungary, Belarus, Kazakhstan, Slovakia and Armenia.
Information prepared by:
Member of the Board
Tel: +371 6 7013 717