Baush & Lomb takes control of Waicon, Argentina’s top seller of contact lenses

Monday, December 5th 2011 - 06:36 UTC

Full article 8 comments

US corporation Bausch & Lomb Inc. has acquired all shares of Laboratorio Pfortner Cornealent SACIF in Argentina, the Rochester based company’s officials announced although details of the sale were not disclosed. Read full article

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xbarilox
no mention of the UK, no?
Dec 05th, 2011 - 08:00 am - Link - Report abuse 0
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yankeeboy
I wonder if this is prompted because CFK has demanded that companies have net zero trade or because she asked the USA companies not to xfer $ back to HQ for at least a year? BL is a very well run company and should be able to bring some nice new technology/products to Arg.
Dec 05th, 2011 - 11:33 am - Link - Report abuse 0
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O gara
Another sign.of.how the real economy is going.to continue.to.grow
Dec 05th, 2011 - 01:14 pm - Link - Report abuse 0
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yankeeboy
How do you make that jump? A wholly owned Arg company getting bought by a USA company. Eventually all the profit will be funneled back to the USA. How is this good for Arg?
Dec 05th, 2011 - 01:30 pm - Link - Report abuse 0
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O gara
Every country needs foreign investment to improve its technology.This company will obviously repatriate profits but it will employ many people and will also pay Argentine taxes on these profits.As well as this one of the governments big efforts at the moment is to get agreement with large business that no profits be repatriated in 2012-2014 and that these be invested in Argentina.The quid pro co is that the government keep a stable exchange rate with competitive interest rates and keep wage rises in order.
Dec 05th, 2011 - 06:42 pm - Link - Report abuse 0
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yankeeboy
That's quite a jump of good faith on your part. I don't see where you are getting your info, most likely B/L needed to do something with some U$ they had in Arg because they were “advised” not to xfer it to the USA and bought a competitor. I don't see anything in the article that talks about investing, hiring etc. Probably will combine the companies and get rid of the staff etc they don't need and wind down the rest.
The gov't is having a very very hard time maintaining the exchange rate even with all the restrictions and threats its up again today. I hear peso is $5.70/U$ in Uruguay with their President having to guarantee the exchange! Lot so suitcases full of pesos will be leaving with the travelers this year. Pesos are leaking out but the smart $ is already gone. now its the middle class that's left.
BTW 19% is not a competitive rate and let's see how CFK does with the Union demands this year I predict a long hot summer with a lot of blocked roads.
Dec 05th, 2011 - 07:51 pm - Link - Report abuse 0
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xbarilox
@ 6 we don't need a faith, we're atheists.
Dec 05th, 2011 - 10:07 pm - Link - Report abuse 0
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ChrisR
#7 xbox
First sensible thing I have seen you write for a while.
Dec 06th, 2011 - 02:24 pm - Link - Report abuse 0
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