Famar, acquired by York Capital Management (York) and Elements Capital Management (ECM), is proceeding with the production of antiseptics. Famar having secured the relevant license from the National Organization for Medicines, will provide free of charge most of the production to the Ministry of Health of Greece, while it will offer significant quantities to the communities around its headquarters and production facilities in Greece, as well to its employees and their families.
Famar undertook the financing of raw materials, including alcohol, as well as production costs. It is emphasized that the products will be distributed in two packages, 400ml bottles with pump and 50ml bottles with lids, in order to facilitate both professional and private use. It is worth noting that the product is produced according to the specifications of the World Health Organization.
It is noted that on March 20, York and ECM completed the joint acquisition of the business activities of Famar in Southern Europe – a leader in the production and provision of pharmaceutical products, health goods and cosmetics. This important transaction includes Famar’s business facilities in Greece, Spain and Italy, as well as distribution activities in Greece.
A Famar representative stated: “This move is part of the corporate social responsibility program for which both the new management and the new owners have committed themselves.”