Lonza meets projections for 3rd quarter

Lonza, one of the world’s leading supplier to the pharmaceutical, healthcare and life science industries, announced that its business performance met projections for the third quarter of 2012. Lonza CEO Richard Ridinger added that the company met target capacity despite several macroeconomic challenges and tight inventory control. Following the successful, long-term refinancing of bridge loans, the company’s balance sheet was greatly strengthened and its management expects to deliver the company’s full-year goals for 2012.
“The third quarter was characterized by ongoing Focus & Deliver initiatives throughout the company. Underlying business growth is on track with newly signed contracts and increasing market demand for our new technologies,” Ridinger said. “While we are making good progress in our short-term cost reduction programs, we were also able to drive our deleveraging with the long-term refinancing of our bridge loans. Also, I am pleased with the progress we are making integrating the Arch business, with 90% of synergy measures already implemented,” he said. (October 31, 2012)