BERLIN, Germany, November 7 /PRNewswire-FirstCall/ -- Schering AG, Germany (FSE: SCH, NYSE: SHR) announced today that it will divest its chemical production activities in Orizaba, Mexico. This measure is related to Schering’s FOCUS Initiative, a comprehensive review of strategic, operational and organizational aspects, to enhance long-term growth and profitability.
“We constantly review all production processes in terms of efficacy and productivity,” said Dr. Karin Dorrepaal, member of the Executive Board of Schering AG, responsible for production. “We have to increase the efficiency and flexibility of our chemical production worldwide. At the same time we aim to prevent a closure of the Orizaba site by identifying solutions which allow operations to continue under new ownership.”
Schering has approximately 250 employees at its chemical production site in Orizaba and expects the divestment to be completed before 2008. In the meantime, chemical production at the Orizaba site will be continued.
At the same time, Schering will also review chemical production activities at its site in Bergkamen, Germany, which are a core competency of the company. This review is expected to result into further restructuring and optimizing of production processes at this site.
Schering AG is a research-based pharmaceutical company. Its activities are focused on four business areas: Gynecology&Andrology, Oncology, Diagnostic Imaging as well as Specialized Therapeutics for disabling diseases. As a global player with innovative products, Schering AG aims for leading positions in specialized markets worldwide. With in-house R&D and supported by an excellent global network of external partners, Schering AG is securing a promising product pipeline. Using new ideas, Schering AG aims to make a recognized contribution to medical progress and strives to improve the quality of life: making medicine work
This press release has been published by Corporate Communication of Schering AG, Berlin, Germany.
Your contacts at Corporate Communication:
Media Relations: Oliver Renner , T: +49-30-468 124 31, oliver.renner@schering.de
Investor Relations: Peter Vogt, T: +49-30-468 128 38, peter.vogt@schering.de
Find additional information at: www.schering.de/eng
Certain statements in this press release that are neither reported financial results nor other historical information are forward-looking statements, including but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and Schering AG’s plans and objectives to differ materially from those expressed or implied in the forward-looking statements. Certain factors that may cause such differences are discussed in our Form 20-F and Form 6-K reports filed with the U.S. Securities and Exchange Commission. Schering AG undertakes no obligation to update publicly or revise any of these forward-looking statements, whether to reflect new information or future events or circumstances or otherwise.
Source: Schering AG
