Olainfarm
Company Announcement

“Olainfarm” Celebrates 40th Anniversary, Plans to Invest About 35 Million Lats over the Coming Decade

On October 12, AS “Olainfarm” celebrated 40 years since first batch of furaginum was synthesized, which marked the beginning of company's operations. During the celebrations Chairman of the Boards Mr. Valerijs Maligins not only had reviewed the major achievements, but also came up with forecasts regarding the expected development during the next decade; the company plans to invest about 35 million lats and maintain the growth of about 10-15% per annum, which, if more favourable scenario develops, could be even as high as 20-30%.

Olaine, October 15, 2012, 2012-10-15 15:00 CEST -- „Olainfarm” faces its 40^th anniversary in a very good shape – we have gained some experience, increased the production output, entered some new markets and have extended out product portfolio.  Basically we are very well prepared for stable growth and further expansion to new markets in coming years.  This gives me a reason to forecast that during the next decade, with the pessimistic scenario our growth will be at the level of 10-15%.  However, “Olainfarm” has all the necessary resources to maintain its growth level at about 20-25% or even 30% per annum.  Besides, we do not only grow on our own, we grow in cooperation with local and international partners and with the World Health Organisation,” says Valerijs Maligins, Chairman of Olainfarm’s Board.

V. Maligins emphasizes: „The most important factor influencing development of “Olainfarm” over the last 40 years and expected to influence it further are people: our employees, scientists, partners, patients. I would like to thank them and wish them further growth together with “Olainfarm”.”

 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.  

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         E-mail: slapinsh@olainfarm.lv