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.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21.2 - Manufacture of pharmaceutical preparations
200 jobs Number of planned job creations
Announcement Date
25 August 2018
Employment effect (start)
25 August 2018
Foreseen end date
30 September 2019
Description
Cannatec Greece, subsidiary of the Canadian investment group Golden Greece Holdings that focuses on medical and industrial cannabis production, announced that it will create 200 new job vacancies by September 2019 in the municipality of Paionia, Kilkis. This occurs because the company was granted a license to develop pharmaceutical cannabis. The license was published on 6 May 2019 in the Government Gazette (Leaflet 1505). According to the company, the amount of investment reaches €50 million. In addition, Cannatec intends to invest €70 million in Polykastro, €15 million in Lagkadas, and €20 million in Veroia. The Canadian company decided to expand to Europe and chose Greece due to the favourable law that has come into force recently, but also due to the favourable country's climate and soil characteristics.
Sources
Citation
Eurofound (2018), Cannatec Greece, Business expansion in Greece, factsheet number 98002, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98002.
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