UniHolding Corp. merges Clinical Trials division with U.S. partner.NEW YORK--(BUSINESS WIRE)--Jan. 29, 1997--UniHolding Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : UHLD), announced today that its wholly-owned subsidiary, Global Unilabs Clinical Trials Ltd. ("GUCT GUCT Georgetown University Club Tennis "), has signed a series of agreements with NDA (Non Disclosure Agreement) An agreement signed between two parties that have to disclose confidential information to each other in order to do business. In general, the NDA states why the information is being divulged and stipulates that it cannot be used for any Clinical Trials Inc. ("NDA"), of Farmingdale, New York Farmingdale is a village in Nassau County, New York in the United States. The population was 8,399 at the 2000 census. The 'Village of Farmingdale is inside the Town of Oyster Bay. Farmingdale School District includes parts of both Nassau County and Suffolk County. , and the NDA stockholders pursuant to which NDA will be combined with UniHolding's Clinical Trials Division to create one global clinical trials laboratory company. The partnership with NDA began in March 1995 with a Cooperation Agreement. In Sept. 1995, UniHolding acquired 17% of NDA. Pursuant to the new agreement, GUCT and the NDA stockholders have formed a new holding company, UCT UCT University of Cape Town UCT Ukhta (Russia) UCT Underwater Construction Team UCT Upper Critical Temperature UCT Order of United Commercial Travelers of America UCT University Center Tower International Ltd., a Delaware corporation. UniHolding owns through GUCT approximately 70% of UCT International Inc., in which it has invested approximately $10 million. Edgard Zwirn, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of UniHolding Corp. commented, "We are very pleased to announce the merger of our Clinical Trials division with NDA, which reinforces our position in this fast growing sector. We are excited about the prospects for this new global clinical trials operation and look forward to continuing expansion in this area of the market, on both sides of the Atlantic." David Deutsch, chairman and CEO of NDA and co-president of UCT International with Paul Hokfelt, stated, "We are delighted to combine NDA with UniHolding's Clinical Trials division. This will make us a truly global clinical trials laboratory company and will allow us to better serve the needs of our existing and future clients." UniHolding Corp. provides laboratory testing services in Switzerland, the United Kingdom, Italy and Spain through its principal operating subsidiaries Unilabs SA (Switzerland) and United Laboratories Limited (UK). CONTACT: UniHolding Corporation Jacques Mot, (011) 41 22 909 7777 Fax: (011) 41 22 909 7707 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Adam I. Friedman/Joseph A. Mansi 212/682-6300 ext. 215/205 Fax: 212/697-0910 E-mail: KCSA@aol.com |
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