25th Sept 2002

Sigma Board decides not to appeal the decision of the ACCC

The Chairman of Sigma Company Limited Dr John Stocker, announced that the Board has decided not to appeal the decision of the ACCC in relation to its proposed merger with Australian Pharmaceutical Industries (API).

While Sigma continues to be disappointed with the decision of the ACCC and the inability to achieve the synergies and benefits the merger offered, the Board believe that it is in the best interests of shareholders to pursue its strategic plans and growth objectives, as a stand alone entity.

The company’s focus will be on aggressively growing its manufacturing business, while continuing to take steps aimed at improving the efficiencies of its wholesaling/ distribution activities and continuing to service its pharmacists customers in the most effective manner.

For further details contact:

Elmo de Alwis
(03) 9839-2820