Polfa Tarchomin to become profitable by the end of the year

Warsaw-based pharmaceutical company Polfa Tarchomin has closed down its manufacturing plant in Lidzbark Warmiński as a part of its restructuring process. According to Andrzej Kleszczewski, Polfa Tarchomin's president, the continuation of production in the plant would be unprofitable as it did not conform to EU norms. Moreover, the company has already stopped its supplies to 200 hospitals and instead is concentrating on supplies to pharmacies. By the end of May 300 staff were laid off with another 100 to go by the end of the year. The company also plans to launch production of several new medicines. Krzysztof Borzym, the financial director of the company, said that in the second half of 2004 the enterprise should once again become profitable and the restructuring process should result in savings of zł.12-13 million in 2005. Polfa Tarchomin is to join the Polish Pharmaceutical Holding (PHF) in September once the ongoing restructuring process has been completed. (Puls Biznesu, p. 7) E.B.