MODEST GROWTH FOR CIBA-GEIGY ITALIA

Ciba-Geigy's Italian subsidiary achieved a modest increase for 1991 to 1,063 billion lire ($866.5 million), while profits climbed to 20 billion lire ($16.3 million).

According to Pier Alfonso Borney, director general of Ciba-Geigy Italia, the subsidiary is showing a 3% rise in sales in the early months of 1992, helped by foreign exchange factors. The group's Italian performance reflects in particular a 10% rise in its agricultural division's sales, according to Mr Borney.

Investments trebled last year to 112.3 billion lire, with that figure including work at the new unit at Torre Annunziata which is now 65% complete. Earlier this year, under a joint venture with Chiron of the USA (Marketletter January 1 & 6), the Swiss parent company completed the takeover of the vaccine operations of the Italian Sclavo group.