Aspen Pharmacare - Tibbett & Britten Acquires Kine
Tibbett & Britten acquires Kinesis
Tibbett & Britten (SA) (Pty) Ltd (T&B), a subsidiary of one of the world's
leaders in supply chain management, has purchased Kinesis Logistics (Pty)
Ltd, a direct distributor which is co-owned by Aspen Pharmacare and four
multi-national pharmaceutical companies, for an undisclosed amount.
-
Stephen Saad, Group Chief Executive of Aspen Pharmacare, Southern Africa's
largest JSE-listed pharmaceutical company, was delighted with the
announcement and said "the change of ownership, effective from May 26, 2001,
is in line with a commitment made to shareholders in Aspen Pharmacare's
interim results released in February 2001."
-
Saad said "Aspen Pharmacare inherited a contractual obligation from SA
Druggists Limited to use Kinesis as its primary distribution channel. We are
now able to fully outsource our distribution chain and enjoy enhanced
flexibility in our choice of distribution methods based on our customer's
requirements".
-
Ron Reade-Jahn, managing director of T&B said "we are pleased to have
concluded the acquisition of Kinesis and are delighted to be associated with
Aspen Pharmacare and other vendors. We are confident that this partnership
will receive wide acclaim from our joint stakeholders particularly our
customers and the investment community. "
-
Aspen Two
-
"As part of a highly experienced global supply management company, we are
equipped to optimally manage the distribution of pharmaceutical products
internationally. This positioning is extremely beneficial and strongly
complements one of Aspen Pharmacare's strategic initiatives which focuses on
increased export earnings", said Reade-Jan.
-
ends
-
Issued by: Shauneen Beukes, Shauneen Beukes Communications
Tel and Fax: (012) 661-8467 : Cell: 082 389 8900
-
Contact Persons:Stephen Saad, Aspen Pharmacare Group Chief Executive
Tel: (031) 268 9506 : Cell: 083 303 4833
-
Further Info: Ron Reade-Jahn, Tibbett & Britten Managing Director
Tel: (011) 471-7210 : Cell 082 451 8219
-
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
