Knoll Plans $37M Investment In Brazil

Knoll, the pharmaceutical unit of Germany's BASF, has said it plans toinvest $37 million over the next four years in Brazil, due to the expected growth in that country's pharmaceutical market.

The company's current production in Brazil is equal to around 48 million units a year, but this will be tripled by the year 2001, with supplies available for both the domestic market and sales to the Mercosur countries. Exports to Argentina will start as of October, and are forecast to reach $4 million. In 1996, Knoll's sales in Brazil were $148 million, up 10% on the previous year, and it aims to raise that figure by 12% in 1997. Two new product launches are planned for Brazil.