Technomed to build $20M plant in Slovakia

Russian drug producer Technomed Services has unveiled plans to build a drug manufacturing facility in Slovakia's Kezmarok industrial zone. The region's mayor, Igor Sajtlava, has signed a memorandum of understanding on the investment with Technomed's representatives.

Commening on the move, project manager, Peter Beck, said: "this is a 15.0 million-euro ($19.9 million) investment and the first stage of the project should be finished in 2007, when at least 100 people will be employed. By 2012, a further 250 will be employed." Technomed noted that, in the early stages of production, the facility's entire output will be destined for the Russian market.