President Hollande opens Pak company’s pharma plant in France

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President Hollande opens Pak company's pharma plant in France

ISLAMABAD, Mar 16 (APP): President of France Francois
Hollande Thursday inaugurated the pharmaceutical facility of
a leading Pakistani company Martin Dow in the town of Meymac,
Corroze, located in the South West of France.
The inauguration ceremony was also attended by
Ambassador of Pakistan to France Moin ul Haque, Phillippe
Brugere, Mayor of Meymac, Pascal Coste, President of the
County Council and Madam Nathalie Delcourserc Julliard Vice
President of the Regionls Council, French government officials
and notables of the area, according to a message received here
from Pakistan Embassy in Paris.
President Hollande said that the investment was a symbol
of Pakistan-France friendship which would further grow in
years to come.
He said that acquisition of former American
Bristol-Myers Squibb’s pharmaceutical plant by a Pakistani
pharmaceutical company was a positive step in consolidating
investment ties between France and Pakistan and as well for
creating new job opportunities in the region.
President Hollande visited various parts of the factory
and was given a detailed briefing by Jawed Akhai, Chairman.
Later speaking to media, the Ambassador of Pakistan to
France Moin ul Haque welcoming the investment by Martin Dow
said that it was a reflection of the growing strength and
confidence of Pakistan’s private sector to successfully expand
its outreach in the developed world.
This would also have a salutary effect in attracting
French investment to Pakistan, he added.
The said plant was set up by the American Company
Bristol-Myers Squibb (AMS) in 1990. It was later taken over by
the Algerian Company Salem Labs in 2010. After the closure of
operations by Salem Labs in 2015, it was acquired by the
Pakistan group Martin Dow.
Founded in 1995, Martin Dow is one of the largest
Pakistani owned pharmaceutical companies in Pakistan.