Abdi İbrahim Brings Forward Two Investments Worth a Total of USD 115 Million
ISTANBUL, September 6, 2016 /PRNewswire/ --
Chairman Nezih Barut: "We have decided to make an ambitious contribution to the construction of a robust economy."
Abdi İbrahim, the Turkish pharmaceutical leader, active in the industry for 104 years, has decided to bring forward two investments at its Esenyurt manufacturing facility in Istanbul.
Abdi İbrahim has announced its decision to bring forward two investments worth a total of USD 115 million, initially planned for the year 2017. After breaking ground on Turkey's largest biotechnological pharmaceutical manufacturing facility with a total investment cost of USD 100 million last year, Abdi İbrahim has now decided to undertake the investment in a sterile injectable products manufacturing facility and an oncological products manufacturing facility in 2016; although the initial plan was to go ahead in 2017.
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Chairman Nezih Barut commented, "We earned in this country, we grew in this country. Now, we have to act much more responsibly."
Indicating that Abdi İbrahim's future plans are outlined in its 2020 Strategy Map, Chairman Nezih Barut stated the following: "Our country has recently gone through difficult times, and we have defended our democracy and future as a whole nation. Now, we have to be bolder in investment, employment creation, and production. As such, before end-2016 we have decided to undertake two investments worth USD 115 million previously planned for 2017. We have taken this decision to share our enthusiasm with the industry and our international business partners, and to make an ambitious contribution to the construction of a robust economy." Underlining that Abdi İbrahim already employs a total of almost 3000 individuals, Nezih Barut indicated that the company has decided to expand job creation and hire 300 more employees by the end of the year.
Nezih Barut provided the following information on Abdi İbrahim's overseas investments and growth targets: "We continue relentlessly our overseas investments, which stand at the heart of our growth targets. Our Kazakhstan factory started production in 2015. In 2017, Abdi İbrahim Remede Pharma in Algeria will become operational, as our third manufacturing facility besides Turkey and Kazakhstan. In line with our 2020 goals, we have designated our five areas of growth as current products, new products, international markets operations, contract manufacturing services, and seizing merger and acquisition opportunities; and will continue to make swift progress in each of these areas."
For further info:
Corporate Communications Director Elif Elkin
http://www.abdiibrahim.com.tr/en/
[email protected]
Contact: +90-212366-8400
SOURCE Abdi Ibrahim
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