The Investment Promotion Center has approved $9 million in investments for 17 plans.
Teva (Nasdaq: TEVA; TASE:TEVA) will invest $4 million to expand its Abic pharmaceutical plant in Netanya. Abic produces active pharmaceutical ingredients (API). The investment is for the creation of new products derived from know-how purchased from an Italian company.
The Investment Promotion Center at the Ministry of Industry, Trade and Labor approved the investment yesterday, using the alternative company tax break method.
The Investment Promotion Center approved $9 million in investments for 17 plans. All but one of the investments are through the company tax break method, and one is a grant.
Published by Globes [online] - www.globes.co.il - on September 2, 2003