Quotations and Literature Forum

It is currently Fri Apr 18, 2014 9:04 am

All times are UTC - 7 hours




Post new topic Reply to topic  [ 6 posts ] 
Author Message
PostPosted: Sat Aug 19, 2006 11:22 am 
Offline
QuoteMaster
QuoteMaster

Joined: Tue Aug 08, 2006 10:40 am
Posts: 4043
Location: Land of the Pyramids
Hi all again,

I beleive that this site is not only for fun and coments but as well for cooperation, thus it is something related to my work that my boss asked me to search for english articles or subjects related to "Fermenta" that was a medical Company located in Sweden.
If there is someone who can help me gather some info about its back grounds and its owners and how it had started successfuly to end suddenly in a dramatic failure?

May be a Swedish resident may have some ideas about that ....am thankful for you all guys whether you are swedish or of any other nationality ....thanks in advance :)


Top
 Profile  
 
 Post subject:
PostPosted: Sat Aug 19, 2006 2:01 pm 
Offline
QuoteMaster
QuoteMaster

Joined: Mon Jul 31, 2006 9:32 am
Posts: 182
I don't know what you have and have not found, but enjoy looking things up, so here we go.

Stockholm Stock Exchange threatened to delist Fermenta in 1986http://query.nytimes.com/gst/fullpage.html?res=9A0DEFD91E30F932A05756C0A960948260

Fermenta founder declared bankrupt by Swedish courts in 1987http://query.nytimes.com/gst/fullpage.html?res=9B0DEED8163DF936A1575AC0A961948260

(third topic down page, titled "Fraud, Insider Trading, Perjury, and Breach of Fudiciary Duty")
The continuing downfall of Mr. el-Sayed, Fermenta founder
http://www.pitt.edu/~ethics/Sweden/case.html

_________________
http://www.drunken-pumpkin.com
Now you know what Jeff was doing.


Top
 Profile  
 
 Post subject:
PostPosted: Sat Aug 19, 2006 2:12 pm 
Offline
QuoteMaster
QuoteMaster

Joined: Mon Jul 31, 2006 9:32 am
Posts: 182
In 1988 the Nordic Council suggested that a review of existing laws and practices should be initiated on Companies Acts legislation passed in the mid-1970's, citing the financial scandals of Fermenta as a primary reason.
Will need Adobe Acrobat
http://www.eki.liu.se/content/1/c4/57/48/management_audit.pdf#search=%22Fermenta%20sweden%22

More info on the Volvo/Fermenta deal that appear to have begun the company's slide.
http://query.nytimes.com/gst/fullpage.html?res=9A0DE5D8133DF933A25752C0A960948260

_________________
http://www.drunken-pumpkin.com
Now you know what Jeff was doing.


Top
 Profile  
 
 Post subject:
PostPosted: Sat Aug 19, 2006 2:27 pm 
Offline
QuoteMaster
QuoteMaster

Joined: Mon Jul 31, 2006 9:32 am
Posts: 182
Time magazine article on el Sayed's scandalous revelations, 1986
http://www.time.com/time/magazine/article/0,9171,960819,00.html

When did the company fold? I'm finding some references to Fermenta in 1999, but there is a firm based in India by the name of Fermenta Biotech and the places I'm finding it in the late nineties are not specifying country of origin for the firm.

_________________
http://www.drunken-pumpkin.com
Now you know what Jeff was doing.


Top
 Profile  
 
 Post subject:
PostPosted: Sat Aug 19, 2006 2:53 pm 
Offline
QuoteMaster
QuoteMaster

Joined: Mon Jul 31, 2006 9:32 am
Posts: 182
The following is from a subscription service and I didn't know how to link to it, but all of the appropriate citation information is there. I don't really know that it helps, but broadens the picture.

I have found mention in a syllabus of a documentary video on the el-Sayed/Fermenta scandal, but can't seem to find a copy of it anyplace, so may have been something that the professor put together.

Crain's Cleveland Business wrote:
April 9, 1990 v11 n15 p3(2)
SDS Biotech goes on sale for 3rd time since 1983. (SDS Biotech Corp.) David Prizinsky.
Full Text: COPYRIGHT Crain's Cleveland Business 1990

SDS Biotech goes on sale for 3rd time since 1983

SDS Biotech Corp., a company in Mentor that through its subsidiaries employs 330 workers in the Cleveland area, has been put on the auction block by its owner, Fermenta AB of Stockholm.

SDS Biotech owns Fermenta ASC Corp. in Mentor and Ricerca Inc., based in Concord Township. A third Fermenta AB company, Fermenta Animal Health of Kansas City, Mo., is also for sale. These companies together listed $258 million in sales in 1989 and reported record profits, according to the Swedish firm. Fermenta didn't specify the profit figure.

SDS Biotech president Franklin Barry said the ramifications of any sale are unclear at this point.

"We don't know what it means for area operations until the buyer is found, which should take roughly four to six months," Mr. Barry said.

A sale of SDS Biotech's operations would be the third ownership change for those businesses in less than a decade. The SDS Biotech companies were once part of the old Diamond Shamrock Corp., which sold a one-half interest in the operations in 1983 to Showa Denko K.K. of Japan. Fermenta AB bought SDS Biotech and its subsidiaries in 1985.

Mr. Barry said last week the Swedish firm decided to sell its U.S. subsidiaries in order to generate a one-time gain this year that will allow the company to use tax-loss carryforwards. He said changes in Swedish tax law have put such tax benefits in jeopardy in the future.

"We're talking about over $100 million in tax-loss carryforwards," Mr. Barry said. "They'll sell the stock, earn a large one-time gain and use the tax benefits."

Fermenta ASC Corp., which has manufacturing plants in Greens Bayou, Texas, makes crop protection chemicals, wood preservatives and specialty chemicals. Ricerca specializes in chemical research projects and employs a research staff of more than 250. Fermenta Animal Health produces a variety of products, including insecticides and antibiotics.

Dillon, Read & Co., a New York investment banking company, has been hired to handle the sale.

Bus.Coll.: 53N4774


Article A8583858

_________________
http://www.drunken-pumpkin.com
Now you know what Jeff was doing.


Top
 Profile  
 
 Post subject:
PostPosted: Sun Aug 20, 2006 12:58 pm 
Offline
QuoteMaster
QuoteMaster

Joined: Tue Aug 08, 2006 10:40 am
Posts: 4043
Location: Land of the Pyramids
Jeff589....I am fully appreciating your efforts and cooperation.

MANY MANY THANKS...the sites that you have mentioned are to the point and helping me much in what I am searching for.

Thanks,
Libra (Sally) :)


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 6 posts ] 

All times are UTC - 7 hours


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
Jump to:  
cron
Powered by phpBB® Forum Software © phpBB Group