ZURICH, April 24 Speciality chemicals and life
sciences group Lonza plans to close a plant in Ireland
as part of an overhaul aimed at boosting profitability, the
company said as it confirmed its earnings target for 2013.
Chief Executive Richard Ridinger has overseen a major
restructuring since his appointment a year ago, as the
Basel-based company has grappled with a strong Swiss franc and
Lonza reiterated its target to increase earnings before
interest and tax by a modest 10 percent this year, compared with
28 percent growth in 2012.
The company said that it will proceed with job cuts at its
Swiss plant at Visp, announced in October, and will close its
Irish site in Swords, near Dublin, in June.
The site, acquired by Lonza during its 2011 purchase of Arch
Chemicals Inc, has 43 staff.
Lonza said in March that it would review its joint venture
with Israel's Teva Pharmaceuticals to produce
biosimilars - low-cost copies of expensive biotech medicines
that could help both companies to cash in on patent expiries -
amid an uncertain regulatory framework.
(Reporting by Emma Farge and Martin de Sa'Pinto; Editing by