Local pharmaceutical company Starwin Products Limited has resumed operations after it halted it some months back.
[contextly_sidebar id=”o1INu4P0LnSvZrfGVNgxlo7LcBfbCqcq”]New owners of Starwin which is Dannex opened the premises of the company after the National Labour Commission (NLC) held a series of meetings with Staff Union and management of the two companies.
The NLC in July,2015 directed all parties involved in the Starwin-Dannex takeover rift to resolve all legal issues on the takeover within thirty days and report to the commission on 2nd September 2015, after Dannex closed down the company. Speaking to Citi Business News the Managing Director of Dannex Yaw Opare-Asamoah said management will work with the current staff of Starwin to achieve the needed results to redeem the image of the company and also reclaim its top position in the pharmaceutical company.
“As far as we are concerned, we are going to work with the staff, I believe that the main agenda is to start operations as quickly as possible. The continuity of staff I can say that we are going to work with the staff going forward so I don’t think they should have any course to worry.”
Managing Director of Dannex Pharmaceutical Company Yaw Opare-Asamoah told Citi Business News they are optimistic ‘the company can begin production in the factory in the next two weeks as by the end of the month we are likely to see a lot more of the company’s products on the market’.
Starwin Products Limited last year opened an offer to its existing shareholders by offering an additional 333,359,264 ordinary shares.
Dannex which prior to the offer owned 2.69 percent shares in the company acquired 68.64 percent shares following the offer at a cost of over 5 million cedis bringing their shareholding to over 70% which automatically makes them majority shareholder of Starwin.
By: Norvan Acquah – Hayford/citifmonline.com/Ghana