"The sale of the division at an attractive price will give us the means to execute our strategy to become the leader in the high end nutritional supplements"said Mr. Pierre Laurin, Chairman of Atrium.
Cash flows from continuing operations (before changes in non-cash working capital items) for the first quarter of 2008 were $11.7 million, an increase of 87.3% compared to $6.2 million for the same period of the preceding year. As at March 31, 2008, the Company had a total debt amounting to $325 million while the Company had a revolving credit facility that provides $350 million of borrowing capacity with the possibility to increase it up to $425 million. In addition, the Company has additional capacity, through an unsecured loan, of $35.6 million which can be used in whole or in part from now until May 21, 2008.
Discontinued Operations - Active Ingredients and Specialty Chemicals (AI
& SC) Division
For the quarter ended March 31, 2008, the Active Ingredients & Specialty Chemicals Division, presented as discontinued operations, generated revenues of $68.0 million, which is an increase of 15.6% compared to revenues of $58.8 million recorded for the same period in 2007. For the first quarter of 2008, the EBITDA was $6.5 million compared to an EBITDA of $5.3 million for the corresponding period in 2007, an increase of 21.2 %.
Atrium Innovations Inc. is a recognized leading developer, manufacturer
and marketer of added value products for health and nutrition industries.
The Company focuses primarily on growing segments of the health and
personal care markets which are benefiting from the trends towards healthy
living and the ageing of the population. Atrium markets a broad portfolio
of active ingredients, specialty chemicals and health and nutrition
finished products through its hi
|SOURCE Atrium Innovations Inc.|
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