July 25 (Reuters) - Hochdorf Holding AG HOCN.S
* Forward integration with Pharmalys Laboratories SA under
examination
* Hochdorf Holding previously announced integration of
downstream stages of value creation stream as one of its
strategic aims, particularly for international market
* In area of baby care there is now mutual interest with
Pharmalys Laboratories SA in pursuing an integration with
Hochdorf Group
* A memorandum of understanding has been signed to this
effect
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