Full Press Release Details
Alcon, Inc. Subsidiary
Announces Agreement toSell
Madrid, Spain Manufacturing Facility
HUNENBERG, Switzerland, July 17,
2003, Alcon Inc. s (NYSE: ACL) wholly owned subsidiary, Alcon CUS , S.A.,
announced today that it has entered into an agreement to sell its contact lens care
solutions manufacturing facility located in Madrid, Spain to AMO Manufacturing Spain,
S.L., a wholly owned subsidiary of Advanced Medical Optics, Inc. (NYSE: AVO) for
approximately $22 million.
sale is part of our overall global manufacturing strategy to manage capacity levels,
streamline operations and reduce production costs, said Jacqualyn Fouse, Alcon CFO
and senior vice president, Finance. This move is cost-effective for us, as it will
help make our existing manufacturing operations more efficient.
worked closely with the plant s management to find a buyer that would be able to
provide continued employment opportunities to the existing employees. AMO has committed to
employ the facility s entire related work force. The production of contact lens care
products previously manufactured in Madrid will be transferred to other Alcon facilities.
The sale and transfer of production will not affect Alcon s ability to satisfy
customer demand of Alcon s contact lens care products.
sale is projected to close in November, 2003, subject to the satisfaction of regulatory
requirements and customary closing conditions and is not expected to have a material
impact on Alcon s 2003 net earnings.
is the world s leading eye care company and has been dedicated to the ophthalmic
industry for more than 50 years. Alcon develops, manufactures and markets pharmaceuticals,
surgical equipment and devices, contact lens solutions and other vision care products that
treat diseases, disorders and other conditions of the eye.
Concerning Forward-Looking Statements. This press release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995,
relating principally to the completion of the sale of the Madrid plant. These statements
involve known and unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements to be materially different from any future
results, performances or achievements expressed or implied by our forward-looking
statements. These statements reflect the views of our management as of the date of this
press release with respect to future events and are based on assumptions and subject to
risks and uncertainties. Given these uncertainties, you should not place undue reliance on
these forward-looking statements. You should read this press release with the
understanding that our actual future results may be materially different from what we
expect. Except to the extent required under the federal securities laws and the rules and
regulations promulgated by the Securities and Exchange Commission, we undertake no
obligation to publicly update or revise any of these forward-looking statements, whether
to reflect new information or future events or circumstances or otherwise.
For information, contact:
MacHatton (Investor Relations)
News media and other inquiries: Mary Dulle (Public Relations)