Jun 18 2004
Nolato Medevo, a unit of the Nolato Medical business area of the Nolato Group, is acquiring Kaltoplast’s medical technology operations, with Astra Tech – part of the pharmaceutical group AstraZeneca – as the main customer.
“The acquisition fits very well into our strategic plan for the development of Nolato Medical,” noted Georg Brunstam, Nolato President and CEO. “We regard medical technology as one of the Group’s core businesses and will continue to invest aggressively in this field.”
Kaltoplast’s operations for Astra Tech, which Nolato is now taking over, have sales of more than SEK 20 million per year and consist of medical technology products in the urology and surgery fields. Manufacturing occurs in clean rooms with high medical technology standards.
“We see Astra Tech as a very interesting customer, with good potential to develop further collaboration,” commented Peter Krikström, head of the Nolato Medical business area.
Nolato’s intention is to move operations for Astra Tech from Kaltoplast in Ängelholm, Sweden, to Nolato Medevo in nearby Torekov. The takeover is occurring by means of an acquisition of assets and liabilities.
“We will offer 20 people who have been working with the manufacturing operations in Ängelholm employment with us in Torekov,” Mr. Krikström said.
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