Teva not selling SLE logistics unit
Teva logistics center Photo: PR
S&P cuts Israel's credit rating
S&P cuts Israel's credit rating
The Israeli pharmaceutical company had considered closing down SLE, which has 300 employees, and selling its logistics center in Shoham.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) reported today that it would not be selling its Israeli SLE distribution and logistics company. The company said that, "Following its announcement in December that it was considering the sale of SLE, Teva has conducted a thorough examination of SLE's activities and business and taking everything into account regarding the business has taken the decision not to move forward with its sale but keep SLE's activities."
"Teva Israel as well as Teva and its manufacturing sites will continue to enjoy SLE’s services. SLE will continue to be one of the main storage solutions for Teva and the main distribution arm for the products and services Teva promotes in Israel, along with the other third party pharmaceutical companies whose products SLE distributes."
Teva emphasized that, "The decision was made despite great interest of dozens of potential buyers."
SLE has 300 employees and property including a logistics center which will now remain part of Teva. The company invested over $100 million in building the logistics center in Shoham, which is SLE's main distribution center.
Published by Globes [online], Israel business news - www.globes-online.com - on May 2, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018
Teva logistics center Photo: PR