PLIVA Divests AWD Manufacturing Plant
The closing of the transaction is expected to occur within the following six months and is subject to the completion of specific terms and conditions. Restructuring charges of USD 22m, however, mainly related to asset impairment, will be reflected in Q4 2005 results. PLIVA has already started transferring production from the AWD plant to its Eastern European facilities, which is expected to deliver savings from 2007 and should be completed by 2008. Following divestment of the manufacturing plant, AWD will continue to invest strongly in its sales and marketing activities in Germany.
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