Esteve: New Plant In Mexico

- The Spanish pharmaceutical company Esteve has inaugurated its newplant in Naucalpan de Juarez, Mexico, where it plans to produce active ingredients for the pharmaceutical industry. The new plant was established through the acquisition by Esteve of local company Sintenovo. Representing the Spanish firm, Josep Esteve said at the inauguration ceremony that the group is particularly interested in establishing itself in the North American Free Trade Association region, which covers Mexico, Canada and the USA.

Esteve has invested 2 billion pesetas ($13.89 million) in Sintenovo, which has 65 staff. The firm produces anti-inflammatory products and in 1996 achieved turnover of 1.1 billion pesetas and undisclosed profits, reports the Spanish newspaper Cinco Dias.