Aventis restructuring Turkish pharmaceutical JV with Eczacibasi
Aventis is changing the structure of Eczacibasi Rhone-Poulenc, itspharmaceutical 50:50 joint venture in Turkey with Eczacibasi Holding, in a bid "to achieve an even better fit in the future, with their respective interests and objectives in the Turkish market." Principally, a new Aventis Pharma company in Turkey has been formed, replacing the JV which was set up in April 1990 and employs around 185 people. Eczacibasi will increase its equity position to 95% of the JV, with Aventis Pharma keeping the remaining 5%. Bernard Reculeau, senior vice president of Aventis Pharma International, said that the firm is committed to Turkey, and the new structure "will ease the implementation of our global product strategy through our own company."
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