Bayer Invests US $20 Million in Expansion of Salvadoran Plant; Investment Sustains More Than 350 Jobs for Salvadorans.Business Editors/Health & Medical Writers SAN SALVADOR San Salvador, city, El Salvador San Salvador (sän sälväthōr`), city (1993 pop. 402,448), central El Salvador, capital and largest city of the country. It is the center of El Salvador's trade and communications. , El Salvador--(BUSINESS WIRE)--Sept. 24, 2002 Plant Becomes Largest in Central America Central America, narrow, southernmost region (c.202,200 sq mi/523,698 sq km) of North America, linked to South America at Colombia. It separates the Caribbean from the Pacific. and New Regional Headquarters for Pharmaceutical Division PROESA, El Salvador's foreign investment promotion agency, announced that German pharmaceutical giant Bayer AG Bayer AG German chemical and pharmaceutical company. Founded in 1863 by Friedrich Bayer (1825–1880), it now operates plants in more than 30 countries. Bayer has originated scores of pharmaceuticals, chemicals, and synthetic materials; it was the first developer and has invested US $20 million in the expansion of its Bonima production facility in the Salvadoran city of Llopango. The plant is now the largest pharmaceutical production facility in Central America and the company's new regional headquarters for its pharmaceutical division. Bayer purchased the Llopango plant from domestic pharmaceutical manufacturer Bonima in 1995 for US $40 million, and has since modernized and upgraded the facility's technology and production capabilities to meet scientific international standards. The Central American Central America A region of southern North America extending from the southern border of Mexico to the northern border of Colombia. It separates the Caribbean Sea from the Pacific Ocean and is linked to South America by the Isthmus of Panama. plant boasts technology not yet utilized in Germany and operates its own million-dollar water processing plant used exclusively in the production of medications. Only Bayer's pharmaceutical plants in Mexico, Venezuela and Brazil are of a comparable size or technological level. Bayer will be manufacturing 150 medications, 75 percent of them for export, at the expanded plant. Twenty of these products, including the major antibiotics Avelox and Ciproxina, carry the Bayer brand. Others comprise lower-priced generic lines positioned to compete with products produced by domestic laboratories. "The Salvadoran government has adopted a progressive framework to allow for foreign investment, and (El Salvador El Salvador (ĕl sälväthōr`), officially Republic of El Salvador, republic (2005 est. pop. 6,705,000), 8,260 sq mi (21,393 sq km), Central America. ) has served as a tremendous region for Bayer to grow," said Jean Vayssier, president of Bayer for Central America and the Caribbean. El Salvador was the first Central American country Noun 1. Central American country - any one of the countries occupying Central America; these countries (except for Belize and Costa Rica) are characterized by low per capita income and unstable governments Central American nation where Bayer established operations, with the company's presence dating back to 1955. "We invested in technology, security and quality in El Salvador because we understand our responsibility to serve the public and its health needs," said Humberto Cuestas, general manager of the Bonima Bayer plant. "As we continue to invest and expand in the region, Bayer has plans to introduce new technologies benefiting El Salvador and Central America." Salvadoran President Francisco Flores There is more than one article that could fall under the title Francisco Flores:
"Investments like those of Bayer underscore El Salvador's first-rate conditions for business and show faith in our dedicated and productive labor force," said Carlos Quintanilla General Carlos Quintanilla (Cochabamba, Bolivia, January 22, 1888 - June 8, 1964) served as the de-facto President of Bolivia from August 1935 until April 1940. Quintanilla saw action during the Chaco War of 1932-35, and managed to ascend the echelon of the Bolivian armed forces Schmidt, Vice President of El Salvador This page contains a list of presidents of El Salvador. There has been a total of 55 presidents; many have served in office more than once. Latest election
See: Foreign direct investment ). The Heritage Foundation and Wall Street Journal's annual rankings have placed El Salvador among the two most open economies in Latin America for the past three years. Since 2000, the country has boasted the lowest interest rates in Central America, offering foreign investors a maximum corporate rate of 25 percent, one of the most competitive in the region. International corporations have invested more than US $500 million in El Salvador in the past two years. El Salvador's goal is to double FDI by 2004. Foreign investment is directly or indirectly responsible for creating more than 250,000 jobs, or close to 15 percent of the country's total employment. About PROESA PROESA, short for Promoting Investment in El Salvador, was created in 2000 and combines public and private sector resources to promote foreign investment in the country. To learn more about the campaign, PROESA and/or investment opportunities in El Salvador, please visit http://www.elsalvadorworks.com or call 1-877-9-PROESA. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion