Bristol-Myers Squibb announces the activation of Art. 47 for the Latina Plant


Latina, March 29, 2010. Bristol-Myers Squibb announced today that will inform the unions that it is commencing the procedures under Art. 47 law no. 428/1990 in connection with the transfer of its manufacturing plant based in Latina, Italy, as a going concern in favour of Corden Pharma Latina S.p.A., an affiliate of International Chemical Investors Group. This aligns with Bristol-Myers Squibb's ongoing optimization of its manufacturing network which has already resulted in the divestiture or closure of several of its manufacturing sites around the world.
The Latina plant is an integrated chemical & pharmaceutical plant holding specialized production capabilities along with an important ecological platform. The plant also holds an experienced and highly skilled workforce.

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases.
Latina Plant (360,000 sqm, 815 employees fully dedicated to plant operations) represents an important asset for the industry. The site reflects BMS demanding quality and compliance standards and has a fully integrated environmental management system. It is ISO 14001 and OHSAS 18001 certified and exports to 70 countries, including Japan, USA and Brazil.
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About Corden Pharma Latina S.p.A. - ICIG

Corden Pharma Latina S.p.A. is an affiliate of International Chemical Investors Group (ICIG), a European industrial holding company focusing on chemical and pharmaceutical businesses. Since inception in 2004, ICIG has acquired several chemicals and pharmaceutical businesses of which 3 are in the USA and 14 in Europe including Italy where it is already present in Caponago (Milan) and Trissino (Vicenza).
Currently, ICIG employs approx. 3,000 people. Sales amount to approx. € 700 Million, with fine chemical representing more than 50% of the business.

International Chemical Investors Group
Sibel Cumcu, +49 69 5069990,