Strides Arcolab subsidiary Cellofarm Ltd inaugurates new facility in Brazil

Strides Arcolab Ltd has announced that Cellofarm Ltd announced the inauguration of its state-of-the-art sterile injectable facility for Penems and Penicillins at Compos in Rio de Janeiro, Brazil.

Built at a cost of US$ 30 million, this state-of-art-facility will become a global site for the Strides group's growing sterile business.

Speaking on the occasion, Mr. Elcemar Almeida, who heads the Latin American Operations, stated "This facility is an important expansion strategy for both the Brazilian operations and Strides group. We are delighted with this major financial and technical commitment the group has made in Brazil and we are confident that the Brazilian operations will continue to play a significant role in the Strides growth strategy".

The stock was trading at Rs.315, down by Rs.2.40 or 0.76%. The stock hit an intraday high of Rs.323 and low of Rs.301.40. The total traded quantity was 177 compared to 2 week average of 6154.

Source : Equity Bulls

Keywords