Cairo – Glaxo SmithKline (GSK Egypt) aims to launch three new production lines valued at EGP 180 million in 2019 and 2020, the company’s general manager Amr Mamdouh said.
GSK Egypt’s new investments include EGP 100 million for opening two lines for the production of Voltaren in 2019 as well as EGP 80 million for launching a new production line at El-Salam factory in 2020, Mamdouh added in a statement released by the Egyptian Ministry of Investment and International Cooperation on Sunday.
Total investments of GSK Egypt amounted to $800 million injected into ten factories, he noted.
It is noteworthy that during the first quarter of 2019, GSK Egypt incurred consolidated net losses of EGP 7.55 million, against net profits of EGP 22.07 million in the year-ago period, including minority shareholders’ rights.
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