Completion of reorganisation

Integra announces the completion of its corporate restructuring operation, with former subsidiaries in Germany, France, Switzerland, and the USA all becoming independent

Integra Biosciences says it has achieved, within a tight timescale, a series of notable changes enabling the business to move strongly forward in the first seven months of 2003.

Only two months after the formal decision and announcement of the corporate reorganisation the R and D, production and marketing/sales departments were successfully integrated into Integra Biosciences's facility in Chur, Switzerland.

Following the strategy of focusing and strengthening its lab instruments business, Integra Biosciences's former subsidiaries in Germany, France, Switzerland, and the USA all became independent and have successfully started to operate under new ownership.

The German and French companies have continued to operate under the name of Integra Biosciences.

In Switzerland and the USA the distribution activities have been taken over by Vitaris and Argos Technologies respectively.

In the UK all distribution activities have been successfully transferred to Scientific Laboratory Supplies.

All these major territories have reported a positive development of sales in the first half of 2003 reflecting their ability to fully concentrate efforts on distribution to end users.

Following the successful integration of the sample storage sales and marketing department into its operation in Lelystad, Netherlands, Integra Biosciences announced at the end of June 2003 that the majority of the shares of Micronic had been subject to a management buy out.

Micronic is continuing to distribute and serve Integra Biosciences products in the Netherlands.

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