Hoechst-Biotika Investment In Slovak Republic
The Hoechst-Biotika pharmaceutical joint venture in Martin, central Slovakia, is to invest up to 100 million koruna ($3.6 million) this year in the modernization of its glass ampoule production, according to the CTK news agency's Business News. The funding will come from the company's own reserves and from Slovak banks.
Hoechst-Biotika expects to equal its 1994 profits of 40 million koruna in the current year but increase its turnover to 500 million koruna following the launch of two new products.
In 1993, the company purchased new technology for the production of tablets, ointments and creams.
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