Gehe On Expansion Trail
The south German drug wholesale group Gehe is on the way to becoming one of the world's major groups in the wake of the takeover of AAH in the UK. The company says that there are also good prospects for internal growth.
Gehe group sales rose 8% in the first five months of 1995, with profits up 30%. Chairman Dieter Kaemmerer has said that growth will be more moderate in the first half-year reporting period, but the pre-AAH company expects sales to advance from 15.2 billion Deutschemarks ($10.8 billion) to 16 billion marks. This means that with AAH added to the accounts, total 1995 group sales will reach some 18 billion marks.
Mr Kaemmerer added that within a few weeks Gehe would be the 100% owner of AAH, currently leader of the UK wholesale market. Six of AAH's board members left the UK firm in May. Gehe has said that it intends to divest AAH's waste disposal business, which is valued at some 170 million marks.
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