15th Jun 2015 08:07
LONDON (Alliance News) - Bangladesh-based Beximco Pharmaceuticals Ltd said Monday that 2015 has began with political turmoil hampering normal business activities. However there are "visible signs of recovery", and it is hopeful the situation in the country will remain peaceful.
In a statement to the company's annual general meeting, Beximco said it is investing BDT10.0 billion, about GBP83 million, through to 2017 in a number of projects to upgrade, replace and expand its manufacturing facilities. These projects are being financed using its own funds and debt, including a loan agreement of USD51.6 million with German private bank BHF Bank.
"Our focus as always will be on achieving the targets we have set for the year and striving to exceed them. We also hope to reach new milestones during the year," Chairman Ahmed Sohail Fasiur Rahman said in the statement.
Shares in Beximco are trading down 3.7% at 16.50 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Beximco Pharma