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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
AMENDMENT NO. 2 TO CURRENT REPORT ON FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
JULY 17, 1995
(Date of earliest event reported)
CAMBREX CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-10633 22-2476135
(Commission File Number) (IRS Employer Identification No.)
ONE MEADOWLANDS PLAZA
EAST RUTHERFORD, NEW JERSEY 07073
(Address of principal executive offices) (Zip Code)
(201) 804-3000
(Registrant's telephone number, including area code)
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AMENDMENT NO. 2
The undersigned registrant hereby amends the following portion of its Current
Report on Form 8-K filed October 27, 1994, as amended on a Form 8-K/A filed on
December 29, 1994 containing Amendment No. 1 to Current Report on Form 8-K, as
set forth in the pages attached hereto:
Item 7. Financial Statements and Exhibits
Filed as part of this Amendment No. 2 are the historical interim condensed
combined unaudited financial statements of the Nobel/Profarmaco Group for the
period January 1, 1994 through September 30, 1994.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Amendment No. 2 to be signed on its behalf by
the undersigned hereunto duly authorized.
CAMBREX CORPORATION
(Registrant)
Dated: July 17, 1995 By:/s/ PETER E. THAUER
-----------------------------
Peter E. Thauer
Vice President-Law and
Environment,
General Counsel and Secretary
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NOBEL/PROFARMACO GROUP
CONDENSED COMBINED BALANCE SHEET
(UNAUDITED)
(IN THOUSANDS)
<TABLE>
<CAPTION>
SEPTEMBER 30,
1994
-------------
<S> <C>
ASSETS
Current assets:
Cash and cash equivalents............................... $ 5,464
Trade and other receivables............................. 23,032
Inventories............................................. 24,342
Other current assets.................................... 1,493
--------
Total current assets............................ 54,331
Property, plant and equipment, net........................ 55,262
Intangible assets, net.................................... 413
--------
Total assets.................................... $110,006
========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued liabilities................ $ 20,120
Income taxes payable.................................... 3,018
Short term borrowings and current portion of long
term debt............................................. 2,062
--------
Total current liabilities....................... 25,200
Long-term debt............................................ 1,330
Other noncurrent liabilities.............................. 7,849
--------
Total liabilities............................... 34,379
Net investment in Nobel/Profarmaco Group.................. 75,627
--------
Total liabilities and net investment in Group... $110,006
========
</TABLE>
See accompanying notes to unaudited condensed combined financial statements.
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NOBEL/PROFARMACO GROUP
CONDENSED COMBINED INCOME STATEMENT
(UNAUDITED)
(IN THOUSANDS)
<TABLE>
<CAPTION>
NINE MONTHS
ENDED
SEPTEMBER 30, 1994
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<S> <C>
Net revenues ........................................ $82,532
Operating expenses:
Cost of goods sold ................................ 54,205
Selling, general and administrative expenses ...... 13,422
Research and development .......................... 2,304
-------
Total operating expenses ........................ 69,931
-------
Operating profit .................................... 12,601
Other (income) expenses:
Interest expense - net ............................ 409
Other - net ....................................... (233)
-------
Income before income taxes .......................... 12,425
Provision for income taxes .......................... 4,160
-------
Net income .......................................... $ 8,265
=======
</TABLE>
See accompanying notes to unaudited condensed combined financial statements.
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NOBEL/PROFARMACO GROUP
CONDENSED COMBINED STATEMENT OF CASH FLOWS
(UNAUDITED)
(IN THOUSANDS)
<TABLE>
<CAPTION>
NINE MONTHS
ENDED
SEPTEMBER 30, 1994
------------------
<S> <C>
Cash flows from operations:
Net income .............................................. $ 8,265
Depreciation and amortization ........................... 4,271
Changes in assets and liabilities:
Receivables ........................................... (1,442)
Inventories ........................................... 5,088
Other current assets .................................. (770)
Accounts payable and accrued liabilities .............. 2,661
Income taxes payable .................................. 3,498
Other noncurrent assets and liabilities ............... 707
--------
Net cash provided from operations...................... 22,279
--------
Cash flows from investing activities:
Capital expenditures .................................... (13,608)
Other ................................................... (838)
--------
Net cash (used in) investing activities ............... (14,445)
--------
Cash flows from financing activities:
Net activity with parent Company ........................ (1,131)
Long-term debt activity (including current portion):
Repayments ............................................ (9,237)
--------
Net cash (used in) financing activities ............... (10,368)
Effect of exchange rate changes on cash ................. 725
--------
Net decrease in cash .................................... (1,809)
Cash at beginning of period ............................. 7,273
--------
Cash at end of period ................................. $ 5,464
--------
</TABLE>
See accompanying notes to unaudited condensed combined financial statements.
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NOBEL/PROFARMACO GROUP
NOTES TO CONDENSED COMBINED FINANCIAL STATEMENTS
(UNAUDITED)
(IN THOUSANDS)
(1) Basis of Presentation
The combined financial statements of the Nobel/Profarmaco Group
(hereafter referred to as the "Group") includes the accounts of Nobel
Chemicals AB, Nobel Chemicals International AB, Profarmaco Nobel S.r.l., and
three sales companies.
The accompanying unaudited Condensed Combined Financial Statements have
been prepared from the records of the Group. In the opinion of management, the
financial statements include all adjustments, consisting of only normal
recurring accruals, necessary for a fair presentation of financial position
and results of operations in conformity with generally accepted accounting
principles. These interim financial statements should be read in conjunction
with the combined audited financial statements of the Nobel/Profarmaco Group
for the year ended December 31, 1993.
(2) Inventories
Inventories are stated at the lower of cost, determined on a first-in,
first-out basis, or market and include material, labor and overhead.
Inventories at September 30, 1994 consist of the following:
<TABLE>
<S> <C>
Finished goods . . . . . . . . $15,335
Work in process . . . . . . . . 5,842
Raw materials . . . . . . . . . 2,434
Supplies . . . . . . . . . . . 731
-------
$24,342
=======
</TABLE>
(3) Debt
All debt was satisfied by Akzo Nobel AB, the Group's parent, prior to
the purchase of the Group by Cambrex in October 1994.
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