Company

Baxter Healthcare Corporation / Gambro Česká republika s.r.o.

Industry

Production, Pharmaceutical, Medical devices, Bloodlines

Project

Closing of the Baxter / Gambro production site in Prerov

Date(s) From-To

12/2016 – 12/2017

Position

Financial Manager

Business situation before the mission

Baxter / Gambro corporate management decided to close production site in Prerov. It was necessary to manage all closing and liquidation process.
Former Financial Manager left the company in 12/2016
Financial management needed to be assured before entering into liqudation, during liquidation process, extraordinary audit at the day preceeding the beginning of the liquidation and management of preparation of the legal aspects of site closing (preparation of legal liquidation of the entity, finishing employees´ contracts etc.) with company lawyers and liquidator.
There was no back up structure / personnel covering group financial reporting.
The information regarding closing was secret, the company should produce as usual till anouncement planned in the mid of May 2017 and then close the production.

Business situation after the mission was completed

Stabilised company prepared to hand over all financial functions to third party (liquidator and external accounting provider) on December 31, 2017
Majority of assets (cca 300 MCZK) and all stocks sold or scrapped (cca 120 MCZK), company cleaned between production closing (May 15, 2017) and the day preceeding beginning of legal liquidation (August 31, 2017)
Extraordinary financial audit on the day preceeding the beginning of the liquidation (August 31, 2017) including Income Tax declaration successfully completed.

Contribution to the result

I completed comprehensive company closing plans in full content.
I executed financial and legal part of closing plan.
I managed and controlled secret company assets evaluation before company closing announcement and asset pricing for assets sold into Baxter Group.
I managed preparation of the company for extraordinary financial audit on August 31, 2017 and guided through the audit.
I planned and managed activities connected with handover of the financial functions to external provider. I explained accounting and reporting rules used in Prerov production site including transfer pricing calculations for 2017 and financing of the company.
I prepared financial plans and forecasts necessary for project management during whole Project duration.