Novartis Unit CIBA to Invest $132 Mln in Malaysia
Tue Oct 25, 2005
KUALA LUMPUR (Reuters) - CIBA Vision Corp, the eye-care unit of Swiss drug-maker Novartis AG (NOVN.VX: Quote, Profile, Research), said on Tuesday it planned to invest 500 million ringgit ($132 million) in a contact-lens plant in Malaysia.
The investment will be made over eight years, Mike Dilworth, CIBA's head of global supply chain, said in a statement.
The plant will be built next to Port of Tanjung Pelepas in southern Johor state.
Novartis is the world's sixth-biggest drug-maker.
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