Chinoin opens R&D center
Monday, June 27, 2005, 08:01
Sanofi-Aventis subsidiary Chinoin Rt. launched a euro 15 million investment at their Újpest site in Budapest, building a new R&D center, Magyar Hírlap reported. Together with the necessary industrial development, the company's expenses may reach euro 30 million. Within the past four years, the number of employees grew by 600 in the Hungarian factory, reaching 2300; the R&D investment will create another 100 jobs. Sanofi-Aventis CEO Dehecq recently stated that they would maintain all operations in Hungary, from basic research to final production.