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Wednesday, January 12, 2005

Elran Holdings invests 4m euros in drugstores

Israeli companies Elran Holdings and NewPharm will invest 4 million euros in a new network of drugstores in Romania.

The network will be administrated by a mixed company in which the two companies will share their participation equally, said an article in the Israeli daily, Globes online edition.

NewPharm will provide management and consultancy services.

Both companies are family-owned businesses held by the Dankner and Borovich families.
Last year, NewPharm opened 12 drugstores in Israel. The company estimated 105 million euros in turnover for 2004, 8% above the 2003 turnover.

Posted by Iulia Rasoiu : 1/12/2005 09:36:00 am