Numico completes Dumex integration with divestiture of baby food activities in India
Schiphol, 30 June 2006, Royal Numico N.V. announces the successful completion of the Dumex integration with the divestiture of its baby food activities in India to Wockhardt Ltd. for an undisclosed amount.
After an in-depth analysis of the competitive landscape, Dumex’ market position in India and the investments needed to build a longstanding profitable business in India, Numico has decided to sell its baby food activities in India which were acquired as part of the Dumex acquisition at the start of 2006. With the sale of the Indian baby food activities, Numico has now successfully completed the integration of the Dumex operations.
Numico’s baby food franchise in India was loss-making in the first quarter of 2006 – accounted for under “Net loss from discontinued operations” – and employed approx. 230 people. The transaction will not have a material financial impact on Numico’s results.
Wockhardt Ltd. is a listed pharmaceutical and biotechnology company based in Mumbai (India) with annual sales of over US$ 300 mln (www.wockhardt.com).
- Contact Information
- Michiel Quarles van Ufford
- Vice-President Corporate Communications
- Royal Numico N.V.
- Contact via E-mail
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