West Pharmaceutical Services Announces Successful Completion Of Euro Conversion
LIONVILLE, Pa., Aug. 6 /PRNewswire/ -- West Pharmaceutical Services, Inc. (NYSE: WST) today announced that it has successfully completed conversion of its business processes and systems in the Eurozone from national currencies to the Euro. The company now has the capabilities to offer full business support to its customers and to conduct transactions with suppliers in the Eurozone (France, Germany, Italy and Spain) using the Euro-based system.
With the transition, West Pharmaceutical Services' customers may now have the ability to view product prices, negotiate contracts and complete transactions in Euros. Partners and suppliers of West Pharmaceutical Services, including government and regulatory bodies, can also conduct business in Euros.
Transition to the Euro was achieved on schedule following an intensive business and systems assessment and changeover, and has been validated by the independent audit body PricewaterhouseCoopers. To accommodate customers and business partners, West Pharmaceutical Services will support national currency transactions through December 31, 2001.
"West Pharmaceutical Services is proud to take the lead in customer protection and reassurance in the changeover from national currencies to Euros," said Linda Altemus, vice president of finance and administration at West Pharmaceutical Services. "Completing this step allows West Pharmaceutical Services to address the needs of its multinational customer base from its European operations."
"Reassuring our customers of an orderly transition to the new currency is extremely important to us," said Ron van Dijk, director of financial planning and analysis, Europe & Euro program manager at West Pharmaceutical Services. "We believe that the national codes on Euro set a public standard for fairness, and we are delighted that we meet all of these requirements."
About West Pharmaceutical Services
West Pharmaceutical Services, Inc. (NYSE: WST) supports global pharmaceutical and healthcare markets with products and services that enhance the effectiveness of drug delivery and product dispensing. West Pharmaceutical Services' technologies include drug formulation research and development, clinical research and laboratory services and the design, development and manufacture of components and systems for dispensing and delivering pharmaceutical, healthcare and consumer products. For more information, visit West Pharmaceutical Services at www.westdrugdelivery.com and www.westpharma.com.
Statements concerning forecasted results, financial or otherwise, which are contained in the above material, constitute "forward looking statements" that involve risks and uncertainties. The Company's actual results may differ materially from those expressed in any forward looking statement and are dependent on a number of factors including, but not limited to, sales demand, timing of customers' projects, competitive pressures, the strength or weakness of the U.S. dollar, inflation, the cost of raw materials, successful continuance of cost-improvement programs and statutory tax rates.
Mike Anderson Morgen-Walke Associates West Pharmaceutical Services, Inc. Theresa Vogt Vice President 212-850-5631 and Treasurer email@example.com
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SOURCE West Pharmaceutical Services, Inc.
CONTACT: Mike Anderson, Vice President and Treasurer of West Pharmaceutical Services, Inc., +1-610-594-3345; or Shoba Vaitheeswaran of Schwartz Communications, +1-781-684-0770, firstname.lastname@example.org; or Theresa Vogt of Morgen-Walke Associates, +1-212-850-5631, email@example.com/