No spate of Indian managers at Terapia

The takeover of Cluj-based drug manufacturer Terapia by the Indian company Ranbaxy will not resemble that made by Mittal Steel, which brought Indian managers at Sidex, but will rather be like Petrom”s acquisition by OMV, says Stephen Stead, general manager of Terapia. “There won”t be a spate of Indian managers for our operations in Romania because we want managerial continuity,” added Stead, who is in charge of the team handling the integration of Terapia in Ranbaxy”s operations in Romania. He says the takeover will be similar to that of Petrom, given that the Terapia brand will continue to exist within the Ranbaxy group, with products of the Cluj-based plant to be registered on a European level and distributed outside Romania under the name “Terapia for Ranbaxy.” The distribution company Ranbaxy Romania will continue to function, as well. “Therefore, the two companies will have complementary, not competing products,” explained Stead. The Terapia official also said that after the takeover, the Cluj-based company would become the third leading regional centre of the group after the one based in the US and the one in India. ZF