GLAXO SAYS SPAIN TO BE EURO CENTER

10 July 1994

Before his retirement as chairman of Glaxo at the end of last month Sir Paul Girolami attended the annual international digestive pathology meeting which was held in Zaragoza, Spain. He announced there that Spain is to be Glaxo's strategic production center for Europe.

Glaxo has made important investments in Spain in recent years. It has already sunk 3 billion pesetas ($23 million) in its plant at Tres Cantos, Madrid, and is putting a further 1.3 billion pesetas in expansion of the site.

In May, the company revealed that it is spending 3 billion pesetas on expanding and modernizing its plant in Burgos (Marketletter May 30), bring total expenditure on this site to 5 billion pesetas. The plant at Burgos has increased its annual production of 14.9 million units to 27.7 million units and employs around 200 staff, reports the Spanish financial daily, Cinco Dias.

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