November, 29. 2005
Tamro enters pharmaceutical wholesale in Poland
Tamro Group enters into pharmaceutical wholesale in Poland. The business responsibility is transferred from Tamros parent company Phoenix Group. Tamro acquires the company Phoenix Pharma Polska Sp. z o.o., which employs 277 people and has an annual turnover of EUR 145 million. The company serves Polands pharmacies from four distribution centres, which are situated in Warsaw, Gdynia, Kraków and Pozna.
After the acquisition Tamro Group has fully owned daughter companies in eight countries and its market-area more than doubles to 72 million consumers. The Polish pharmaceutical market size is estimated at EUR 3.5 billion this year, with growth of 8% compared to 2004. Poland has a population of 39 million and the country has approximately 11 000 pharmacies.
The Polish market is going through a strong development phase, comments Jo Langmoen, CEO of Tamro Group. Our market share in Poland is now 4%, and we aim to increase our share with organic growth as well as acquisitions. The Polish business is a natural fit to Tamro due to the geographical proximity, he continues.
The company is consolidated into Tamro Group from the beginning of next fiscal year 1.2.2006. The Polish management team will report to Tamro Group management in Vantaa.
About Tamro Group
Tamro Group is the leading pharmaceutical wholesaler in Northern Europe with retail pharmacies in Norway, Lithuania, Latvia and Estonia. The Group operates in the Nordic countries, in the Baltic States and through a minority share in Russia. Tamro's average share of pharmaceutical wholesaling in the Nordic countries is approx. 52%. Tamro is a subsidiary of the pan-European PHOENIX Group. Headquartered in Vantaa, Finland, Tamro employs over 4000 people and produces annual revenues of more than EUR 4,5 billion.
For further information:
Jo Langmoen, CEO, Tamro Group, tel. +358 20 445 4050
Juha Koponen, CFO, Tamro Group, tel +358 20 445 4041
Niko Palosuo, Communication Manager, email@example.com
phone +358 20 445 4001 or +358 40 848 4001
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