JSC Olainfarm plans that sales of Tonus Elast Ltd. in 2016 could increase to 9 million euros. This would mean an increase by 23% compared to 2015, when company made sales of 7.3 million euros. It is expected that the net profit could remain at the level of 2015, and be at the about 1.7 million euros. It is expected that within the next three years profit and sales of Tonus Elast Ltd. could increase by 50%. Significant sales increase to Russia in Ukraine is planned for the very near future.
On May 12, 2016, JSC Olainfarm signed an agreement about acquiring 100% shares in Tonus Elast Ltd., producer of elastic medical products. The total price of shares was 14 million euros and JSC ABLV Bank provided a loan with 10 years maturity to finance the transaction.
Tonus Elast Ltd. was established in 1995 and is a producer of elastic medical products, from elastic bandages to complicated corsets for pregnant and lactating women. Products portfolio of Tonus Elast Ltd. includes more than 100 different product types, bestselling of which are bandages and compression products. The main sales markets are CIS and EU countries, India and the countries of Middle East.
A little more than 200 employees are working at production site of Tonus Elast Ltd. in Nicas novads. The site meets all requirements of a modern producer of medical appliances, which is confirmed by LVS EN ISO 9001:2009 certificate.
JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 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 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.
Information prepared by:
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777