ZAGREB, Feb 12 (Hina) - By introducing Euro in its business operations, the Croatian pharmaceutical company Pliva will save US$200,000 annually. According to the estimates of Pliva experts, this amount would be saved by cutting
transaction and conversion costs. Although the effect of the single European currency on Pliva's operations is currently limited, because the company has been traditionally operating in dollar, Pliva's management has decided to introduce Euro in its operations, as of January this year, due to the pressure of its clients and partners. According to the company's sale indicators, the European Union is not Pliva's key market (in 1998, Pliva realised eight per cent of its overall income in western Europe), however, the sources of financing in the western European market could have a major effect on the company's future business operations.(hina) jn rml
ZAGREB, Feb 12 (Hina) - By introducing Euro in its business
operations, the Croatian pharmaceutical company Pliva will save
US$200,000 annually.
According to the estimates of Pliva experts, this amount would be
saved by cutting transaction and conversion costs.
Although the effect of the single European currency on Pliva's
operations is currently limited, because the company has been
traditionally operating in dollar, Pliva's management has decided
to introduce Euro in its operations, as of January this year, due to
the pressure of its clients and partners.
According to the company's sale indicators, the European Union is
not Pliva's key market (in 1998, Pliva realised eight per cent of
its overall income in western Europe), however, the sources of
financing in the western European market could have a major effect
on the company's future business operations.
(hina) jn rml