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Associated Capsules turns sick unit to profit making entity in Coatia

Our Bureau, Mumbai
Tuesday, May 10, 2016, 15:05 Hrs  [IST]

Associated Capsules Pvt. Ltd is the first Indian company to operate in the pharmaceutical sector in Croatia, East European country. The company took over an old sick capsule plant in that country and turned it around into a profit making entity in a short time saving over 130 jobs.

To meet growing demand for these products in Europe, Associated Capsules is planning a second phase expansion at the same Croatian facility. With this the total investment is expected to cross over Euro 50 million with considerable increase in local employment.

Mr. Selwyn Noronha, CEO of ACG Worldwide said, “We are satisfied with our Croatian operations. People speak English widely and the workforce is loyal and hard working and absorb technology quickly. Our capsules have free entry into Europe and the infrastructure, roads & communications are good. ”

Indian pharma companies seeking to establish themselves in EU may find it advantageous to invest in Croatia. They can thereby gain quick access to the EU, USA and other advanced markets.

Incidently, a pharma professional, Tihomir Oreškovic, now heads the Croatian Government as the prime minister, following their recent countrywide elections.

 

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