10th Jul 2015 06:11
LONDON (Alliance News) - FTSE 100-listed medical devices company Smith & Nephew PLC on Friday said it has struck a deal to acquire the Russian distribution and manufacturing business of DeOst LLC and DC LLC, a unit of Russian manufacturing company DeOst.
Smith & Nephew did not provide any financial details on the deal but said that taking on the manufacturing business will help it to reach more customers in Russia following recent changes to state tender rules supporting Russian-produced products.
"Smith & Nephew has grown its business in Russia since 2005. This investment, in-line with our strategy to build our platform in the Emerging Markets, significantly boosts our local presence and prospects and will enable us to take advantage of market dynamics and better serve Russian customers," said Chief Executive Olivier Bohoun.
By Sam Unsted; [email protected]; @SamUAtAlliance
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