QUEBEC CITY, May 22 /PRNewswire-FirstCall/ - In accordance with the termspreviously announced on April 4, 2008, Atrium Innovations Inc. "Atrium" (TSX:ATB) today announced that it has completed the sale of its Active Ingredientsand Specialty Chemicals division for total proceeds of US$166.4 million incash, subject to a post-closing working capital adjustment. Atrium is now ahealth and nutrition pure-play and the net proceeds from the transaction willprovide the Company with better financial flexibility to pursue its corporatestrategy.
Atrium Innovations Inc. is a recognized leading developer, manufacturerand marketer of science-based and professionally endorsed products for thehealth and nutrition industries. The Company focuses primarily on growingsegments of the health and nutrition markets which are benefiting from thetrends towards healthy living and the ageing of the population. Atrium marketsa broad portfolio of finished products through its highly specialized salesand marketing network in more than 35 countries, primarily in North Americaand Europe. Atrium has over 575 employees and operates five manufacturingfacilities. Additional information about Atrium is available on its Web siteat www.atrium-innov.com.
SOURCE Atrium Innovations Inc.