Workers of Starwin will have their jobs intact following the acquisition of their company by local pharmaceutical giant Dannex.
This is according to Dannex which is now the majority shareholder of the company with 71.33 percent stake.
Prior to becoming the majority shareholder of Starwin, Dannex owned 2.69 percent shares in the company.
In its latest acquisition Dannex acquired 68.64 percent stake in the company at a cost of over 5 million cedis.
Industry players say the acquisition though commendable may lead to some workers of Starwin being laid off.
But the MD of Dannex, Yaw Opare-Asamoah dismisses the assertion.
He told Citi Business News ‘ we will want to be a big entity in the pharmaceutical space we will need the employees to work with us going forward, at this point we don’t not have any reason to say that people will lose their jobs.
We will ensure that we work with everybody who is willing to work with us to ensure that the company becomes successful.’ He said.
The acquisition of Starwin by Dannex is expected to make Dannex a formidable force to grapple with in the pharmaceutical industry both in Ghana and the West Africa sub region.
Dannex Limited is a wholly owned private limited liability company which was set up in May 1964 and is recognized as an industrial leader in the manufacture of high quality pharmaceutical drugs and chemicals in Ghana, while Starwin Products Limited is one of the leading pharmaceutical companies in Ghana and the first of only two organizations in the industry to be listed on the Ghana Stock Exchange.
By: Vivian Kai Mensah/citifmonline.com/Ghana