ITALY: BRITISH 3I TAKES 30% STAKE IN VIS

Article Abstract:

For L 8bn, British investment group 3i acquired a 30% stake in Italian Vis Farmaceutici - Istituto Scientifico delle Venezie SpA of Padua. Vis, which produces pharmaceutical intermediate products and active substances in particular for antidepressive drugs, is a supplier to companies such as Novartis, Rhone-Poulenc Rorer and Brystol-Myers Squibb. Vis exports about 70% of its production volume. The company is planning to invest L 20bn in the modernisation and capacity expansion of production during the next 3 years in order to increase its turnover from L 33bn in 1997 to L 50bn. With annual investments of L 600bn, 3i is the largest investor of venture capital in Europe.

Asset sales & divestitures, 3i Group PLC, Vis Farmaceutici-Istituto Scientifico delle Venezie S.p.A.

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ITALY: PIERREL TO INVEST L 9BN BY 2000

Article Abstract:

Pierrel SpA, which is the largest Italian producer of anaesthetics, is to invest almost L 9bn by the year 2000. Capacity and efficiency of the plant in Capua are to be increased. The company is also considering further investments in the Naples area. Pierrel generates a turnover of about L 50bn, of which about half is made up by the company's own products. The other 50% is accounted for by merchandise products.

Industrial Gas Manufacturing, Medical Gases, Anesthetic Gases, Pierrel S.p.A.

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ITALY: INVESTMENT IN BAYER BIOLOGICALS

Article Abstract:

Bayer Biologicals SpA is to invest about DM 170mn on setting up a European centre for the production of immunoglobulins. In the next three years the production is to be converted for a new technology. The German chemicals group has given up its original plan to modernise the factory of Sclavo SpA in Rosia for DM 120mn for the fractionating of blood plasma.

Statistical Data Included, Sclavo S.p.A.

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