The Bank of New York Chosen as Successor Depositary Bank by Fresenius Medical Care
27 February 2007 - 1:30AM
PR Newswire (US)
NEW YORK, Feb. 26 /PRNewswire-FirstCall/ -- The Bank of New York, a
global leader in securities servicing, has been selected as
successor depositary by Fresenius Medical Care for its ordinary and
preference American depositary receipt (ADR) programs. Each
Fresenius Medical Care ordinary ADR represents one-third of an
ordinary share. Each Fresenius Medical Care preference ADR
represents one-third of a preference share. The ordinary ADRs trade
on the New York Stock Exchange under the symbol "FMS," and the
preference ADRs trade on the New York Stock Exchange under the
symbol "FMSPR." Headquartered in Germany, Fresenius Medical Care is
an integrated provider of products and services for individuals
undergoing dialysis because of chronic kidney failure. Through its
network of 2,085 dialysis clinics in North America, Europe, Latin
America, Asia-Pacific and Africa, Fresenius Medical Care provides
dialysis treatment to more than 161,400 patients around the globe.
Fresenius Medical Care is also a leading provider of dialysis
products, such as hemodialysis machines, dialyzers and related
disposable products, and operates in more than 100 countries.
Oliver Maier, senior vice president and head of investor relations
and corporate communications at Fresenius Medical Care, said, "We
look forward to working with The Bank of New York. We are confident
that they have the resources, strength, and professional expertise
to help us continue to grow our programs and gain broader access to
the U.S. marketplace." Christopher Sturdy, executive vice president
and head of the Depositary Receipt Division, said, "We are pleased
that an experienced issuer such as Fresenius Medical Care has
chosen us as its depositary. Our extensive experience in the
healthcare industry and local knowledge of the German markets will
enable us to maximize their programs' potential." The Bank of New
York is depositary for more than 1,250 American and global
depositary receipt programs, a 64% market share, acting in
partnership with leading companies from 61 countries. With an
unrivalled commitment to helping securities issuers succeed in the
world's rapidly evolving financial markets, the Bank delivers the
industry's most comprehensive suite of integrated depositary
receipt, corporate trust and stock transfer services. Additional
information is available at http://www.adrbny.com/. The Bank of New
York Company, Inc. (NYSE:BK) is a global leader in providing a
comprehensive array of services that enable institutions and
individuals to move and manage their financial assets in more than
100 markets worldwide. The Company has a long tradition of
collaborating with clients to deliver innovative solutions through
its core competencies: securities servicing, treasury management,
asset management, and private banking. The Company's extensive
global client base includes a broad range of leading financial
institutions, corporations, government entities, endowments and
foundations. Its principal subsidiary, The Bank of New York,
founded in 1784, is the oldest bank in the United States and has
consistently played a prominent role in the evolution of financial
markets worldwide. Additional information is available at
http://www.bankofny.com/. The Bank of New York provides no advice
nor recommendation or endorsement with respect to any company or
security. Nothing herein shall be deemed to constitute an offer or
solicitation of an offer to buy or sell securities. DATASOURCE: The
Bank of New York CONTACT: Dori Flanagan, +1-212-815-2291 Web site:
http://www.bankofny.com/ http://www.adrbny.com/
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