Companies / United Arab Emirates
Julphar Announces Timely Investment
November 2006 | Company Finance AlertUAE-based drugmaker Gulf Pharmaceutical Industries (Julphar) is planning to invest AED1bn (US$272.26mn) establishing 11 new factories, of which 7 will be in the emirates. The remaining four will be located in Sudan, Bangladesh, Afghanistan and Morocco, helping to boost the company's international profile. Julphar's stated aim is to become am AED1bn (US272.26mn) company by 2010. In 2006 sales were AED641mn (US$174.5mn), slightly above industry forecasts, and BMI believes that the latest investment should help the company increase capacity significantly, in line with its ambitions.
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