LONDON (Alliance News) - GlaxoSmithKline PLC said Friday that it will invest GBP25 million to expand its operations in Montrose, Scotland, to support the delivery of its new pipeline of medicines.
The pharmaceutical giant said that it will be create 25 new jobs from the investment, bringing its total workforce in Scotland to more than 750. Some 50 additional contractors will also be employed during the construction phase.
The investment follows Glaxo's pledge in 2012 to invest GBP100 million in its Scottish operations, of which it has invested around GBP40 million so far.
"Glaxo's investment is a testament to the skill of the Scottish workforce and illustrates the confidence international companies have in Scotland as a country to invest in," said Finance Secretary John Swinney in a statement. "Montrose has the infrastructure, experience and skills to deliver success for Glaxo and the company's commitment to Scotland is further positive news for financial enterprise and the wider Scottish economy."
Shares in Glaxo were trading up 6.00 pence at 1,645.50 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright © 2013 Alliance News Limited. All Rights Reserved.
Glaxosmithkline (GSK)