EAST RUTHERFORD, N.J., Oct. 30 /PRNewswire-FirstCall/ -- Cambrex
Corporation (NYSE: CBM) announced today that the previously disclosed sale
of its Human Health facilities in Cork, Ireland, and Landen, Belgium, to
International Chemical Investors S.A. II (ICIG) of Luxembourg had been
completed on October 27, 2006.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000613/CAMBREXLOGO )
"The completion of this transaction represents an important step in our
effort to streamline and strengthen the Human Health business," said James
Mack, Chairman, President & CEO of Cambrex. "We will now concentrate our
investments in facilities where we have strong market positions,
differentiating technologies, and proprietary products."
About Cambrex
Cambrex is a global, diversified life sciences company dedicated to
providing products and services to accelerate and improve the discovery and
commercialization of human therapeutics. The Company employs approximately
1,800 worldwide. For more information, please visit http://www.cambrex.com.
About International Chemical Investors
International Chemical Investors is an investment group focusing on
mid- sized chemical businesses, preferably subsidiaries of large
corporations, which are considered non-core, with leading positions in
niche markets, operating in competitive environments.
Cambrex Forward Looking Statements
This news release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 and Rule
3b-6 under The Securities Exchange Act of 1934, including, without
limitation, statements regarding expected performance, especially
expectations with respect to sales, research and development expenditures,
earnings per share, capital expenditures, acquisitions, divestitures,
collaborations, or other expansion opportunities. These statements may be
identified by the fact that words such as "expects," "anticipates,"
"intends," "estimates," "believes" or similar expressions are used in
connection with any discussion of future events and financial and operating
performance. The forward-looking statements contained herein are based on
current plans and expectations and involve risks and uncertainties that
could cause actual outcomes and results to differ materially from current
expectations including but not limited to, global economic trends,
pharmaceutical outsourcing trends, competitive pricing or product
developments, government legislation and/or regulations (particularly
environmental issues), tax rate, interest rate, technology, manufacturing
and legal issues, changes in foreign exchange rates, performance of
minority investments, uncollectible receivables, loss on disposition of
assets, cancellation or delays in renewal of contracts, and lack of
suitable raw materials or packaging materials, the possibility that the
value of the acquisition of PermaDerm(TM) cultured skin may not be realized
or that our plans to obtain a Humanitarian Device Exemption, completion of
clinical trials and commercialization of PermaDerm cultured skin in the
United States may not be successful, the Company may not receive regulatory
approval for its products, the outcome of the evaluation of strategic
alternatives, the satisfaction of the conditions to closing set forth in
the stock purchase agreement with Lonza and the availability of financing
on favorable terms in order to fund the portion of the special dividend
that is not being funded from proceeds of the sale.
For further details and a discussion of these and other risks and
uncertainties, investors are cautioned to review the Cambrex 2005 Annual
Report on Form 10-K, including the Forward-Looking Statement section
therein, and other filings with the Securities and Exchange Commission,
including the Current Report on Form 8-K filed on October 24, 2006. The
Company undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
SOURCE Cambrex Corporation
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Related links:
http://www.cambrex.com
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CONTACT:
Robert Thomson, Director, Investor Relations,
+1-201-804-3047, bob.thomson@cambrex.com
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