Egypt: EIPICO prepares to build ampoule plant

The Egyptian International Pharmaceutical Industries Co (EIPICO) has begun preparations to build a EGP 30 million (USD 4.9 million/EUR 4.2 million) plant to manufacture glass ampoules, a company sourc…

The Egyptian International Pharmaceutical Industries Co (EIPICO) has begun preparations to build a EGP 30 million (USD 4.9 million/EUR 4.2 million) plant to manufacture glass ampoules, a company source said on 21 October 2003. The plant will have an annual output of some 160 million ampoules and be built within two years. EIPICO will itself consume between 50 million and 60 million ampoules annually and the rest will be sold on the local market or exported. The new plant is expected to generate an additional income for EIPICO of some EGP 20 million (USD 3.3 million/EUR 2.8 million) a year, the source added. EIPICO“s general shareholders“ meeting has added the manufacturing of empty glass ampoules to the list of the company“s main activities. The company posted a net profit of EGP 60.6 million (USD 9.9 million/EUR 8.7 million) for the 1H of 2003, up from EGP 58.55 million (USD 9.5 million/EUR 8.4 million) for the same period of 2002.