Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Indian pharmaceutical company Aurobindo Pharma has announced it will invest 10 million euro in setting up a manufacturing plant in the Hal Far Industrial Estate, Malta, which will employ up to 120 people later in 2008. The Maltese site will concentrate on the manufacture of pharma-finished formulas and will supply services including laboratory testing, quality assurance and the validating of pharmaceutical products for EU customers and is expected to reach sales of 26 million euro by 2013. The move is designed to help Aurobindo expand its European markets share. The company’s vice president gave the reasons for the decision to set up in Malta as being due, among others, to the English-speaking workforce, reduced income tax regime and ease of investment. Aurobindo, which is one of the top five pharmaceutical companies in India, operates in over 100 countries, employs about 7,000 persons worldwide and had a turnover exceeding half a billion euros in 2007. Among others, it specializes in the production of anti-infectives, antiretrovirals and cardiovascular drugs.
Eurofound (2008), Aurobindo Pharma, Business expansion in Malta, factsheet number 66359, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66359.