Hoechst Move Guarantee Of Activities At Roussel Uclaf
The strategy developed by Roussel Uclaf's parent company, Hoechst AG ofGermany, is a guarantee of the continuation of Roussel Uclaf's scientific, industrial and commercial activities in France, Jean-Pierre Godard, chairman of RU told company shareholders in a letter concerning the tender offer made by Hoechst last month (Marketletters passim).
"It constitutes a real opportunity to increase our international competitiveness and all our efforts will now focus on the success of the new entity, Hoechst Marion Roussel," he said.
Jurgen Dormann, chairman of Hoechst, also addressed shareholders in the letter, reiterating the strength of the cooperation between the two companies, which dates back to the late 1960s. Mr Dormann also observed that the two firms had "too modest ranking," Hoechst being ranked 21st and Roussel Uclaf 34th worldwide in 1995. He also pointed out weaknesses in the USA.
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