Quebec City, Canada, May 22, 2008 – In accordance with the terms previously announced on April 4, 2008, Atrium Innovations Inc. today announced that it has completed the sale of its Active Ingredients and Specialty Chemicals division for total proceeds of US$166.4 million in cash, subject to a post-closing working capital adjustment.
Atrium is now a health and nutrition pure-play and the net proceeds from the transaction will provide the Company with better financial flexibility to pursue its corporate strategy.
About Atrium
Atrium Innovations Inc. is a recognized leading developer, manufacturer and marketer of science-based and professionally endorsed products for the health and nutrition industries. The Company focuses primarily on growing segments of the health and nutrition markets which are benefiting from the trends towards healthy living and the ageing of the population. Atrium markets a broad portfolio of finished products through its highly specialized sales and marketing network in more than 35 countries, primarily in North America and Europe. Atrium has over 575 employees and operates five manufacturing facilities.