Profits Plunge And Chairman Goes At ACF
Profits at pharmaceutical wholesaler ACF of the Netherlands plummeted from 29.5 million guilders in 1993 to 2.5 million guilders ($1.6 million) in 1994, the company has revealed. It was also announced that ACF's chairman Paul Slagmulder resigned "in connection with the changed company structure."
A Blom, who will take up the position of chairman in October, is understood to want to strengthen ACF's wholesaling activities, which currently represent around 85% of total turnover.
He is also expected to cut costs in the wholesale division by 30 million guilders and achieve "maximum centralization of medicine distribution by reducing the number of distribution centers from eight to two," according to local reports.
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