PARIS, MAR 16, (DNA) -President of France Francois Hollande inaugurated the pharmaceutical facility of the leading Pakistani pharmaceutical company Martin Dow in the town of Meymac, Corrèze, located in the South West of France, today.

The inauguration ceremony was also attended by the Ambassador of Pakistan to France Moin ul Haque, Mr. Phillippe Brugere, Mayor of Meymac, Mr. Pascal Coste, President of the County Council and Madam Nathalie Delcourserc Julliard Vice President of the Regionls Council, French government officials and notables of the area.

President Hollande said that this investment is a symbol of Pakistan-France friendship which will further grow in years to come. He said that acquisition of former American Bristol-Myers Squibb’s pharmaceutical plant by a Pakistani pharmaceutical company was a positive step in consolidating investment ties between France and Pakistan and as well for creating new job opportunities in the region.

President Hollande visited various part of the factory and was given a detail briefing by Mr. Jawed Akhai, Chairman.

Later speaking to media, the Ambassador of Pakistan to France Moin ul Haque welcoming the investment by Martin Dow said that it was a reflection of the growing strength and confidence of Pakistan’s private sector to successfully expand its outreach in the developed world. This would also have a salutary effect in attracting French investment to Pakistan.

The said plant was setup by the Américan Company Bristol-Myers Squibb (AMS) in 1990. It was later taken over by the Algerian Company Salem Labs in 2010. After the closure of operations by Salem Labs in 2015, it was acquired by the Pakistan group Martin Dow.

Founded in 1995, Martin Dow is one of the largest Pakistani owned pharmaceutical companies in Pakistan.