Around a third of the overall EUR12 million will come from European funds, the company said Thursday.
The company attracted non-reimbursable European funding of 17.9 million lei (around EUR4.2 million) through the “Increase of Economic Competitiveness” program, with the remaining amount to be covered by the company.
“According to initial estimates, the investment will help drive the turnover up by a few percentage points in the first few years of functioning of the department,” said Ioan Nani, general manager of Antibiotice.
The pharmaceutical producer last year posted a turnover of RON219.7 million (EUR51.9 million), up 11% against the previous year, and a 4.7% higher net profit, at RON12.48 million (EUR2.9 million). (EUR1=RON4.2236)
(English version by Daniela Stoican)