Roussel Merger In Japan Authorized
The planned merger of Roussel Morishita and Nippon Roussel in Japan was authorized at Roussel Uclaf's supervisory board meeting last month. After the merger, Roussel Uclaf will be the majority shareholder in the new firm, with a 52% stake.
The new Roussel Morishita will be fully consolidated from July 1996. The firm says that this should increase RU's consolidated sales by more than 1 billion French francs ($197.8 million) on a full year basis.
Group sales in 1995 were 16.5 billion francs, up 1.2% (Marketletter February 26). The board of managment of RU presented the consolidated accounts and financial results for 1995 at the meeting.
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