Oriola Oy and Kronans Droghandel Ab, both subsidiaries of Orion Corporation, have made a principle decision in accordance of which Oriola will acquire all shares in Kronans Droghandel Ab's Finnish subsidiary KD Tukku Oy Ab. The acquisition will be made during the summer of 2003. The businesses of KD Tukku Oy Ab will continue within the Oriola Group. The personnel of KD Tukku Oy Ab will continue to work within the company and Mr. Matti Lievonen will continue to act as President of KD Tukku Oy Ab. Oriola's share in the Finnish pharmaceutical distribution in the first quarter 2003 was 37% and that of KD Tukku 23%.
Orion Wholesale and Distribution
Kronans Droghandel (KD) and its sister company Oriola constitute the Wholesale and Distribution business division of the Finnish Orion Group. KD, which became part of Orion in mid 2002, is present in Sweden and Finland. Orion's present holding in Kronans Droghandel is 69,3%. KD's invoicing was EUR 1 738,0 million and net sales EUR 1188,7 million in year 2002. Oriola's main operations are in Finland and the Baltic countries. Oriola's invoicing volume came to EUR 716,4 million and net sales to EUR 384,8 million in year 2002.
Kronans Droghandel
KD provides a versatility of logistic, warehousing and distribution services to pharmaceutical manufacturers of pharmaceuticals and other healthcare products. The company was established in 1907, and its market share of pharmaceutical distribution in Sweden is about 50%. No less than 93% of the company's 2002 net sales of EUR 1,2 billion came from pharmaceutical distribution, the remaining 7% from healthcare product logistics to pharmacies, hospitals and clinics.
Oriola
Orion is the leading company in Finland specialising in healthcare products. Its second largest business division, Oriola (www.oriola.fi), focuses on pharmaceutical wholesaling and distribution as well as on the marketing of equipment and supplies to healthcare providers in Finland and the Baltic countries. In Finland, in addition to pharmaceutical distribution and OTC product marketing, Oriola's marketing units - Sairaalaväline (Medical), Hammasväline (Dental), Prolab (Laboratory), Reformi-Keskus (Health Food) and Medion Medical Imaging and Radiotherapy) - have a comprehensive market position. Today, in Sweden Oriola is mainly present with dental care products but Oriola's marketing units' growth intention is to exploit the Swedish market potential and KD's Swedish logistic services.
Orion Corporation
Jukka Viinanen Pauli Torkko
President and CEO Executive Vice President
Contact Person:
Seppo Morri, President,
Oriola Oy,
phone +358 10 429 2211
Publisher:
Orion Corporation
Corporate Administration
Orionintie 1, FIN-02200 Espoo
Homepage: www.orion.fi
Heikki Vuonamo, Corporate VP, Communications
Phone +358 10 429 4967