Aurobindo's French subsidiary Arrow inaugurates its new logistics and industrial site in Lyon

Aurobindo Pharma Limited (along with its subsidiaries together referred to as "Aurobindo") has announced that its French subsidiary Arrow Generiques SAS (Laboratoire Arrow, which is referred to as "Arrow") has announced the opening of its new logistics and industrial site in Saint Vulbas, near Lyon, France. The new facility reflects our strong commitment to the region, will support our growth aspirations in the French market and help in creating 100 new employment opportunities.

The opening ceremony, which took place earlier today, was graced by local and state dignitaries, including his Excellency, the Ambassador of India to France & Monaco, Mr. Jawed Ashra and in the presence of Mr. P. V. Ramprasad Reddy, Founder and Director of Aurobindo and Mr. Vincent Pont, President of Arrow.

The state-of-the-art facility covers a surface area exceeding 25,000 m2 and built on a 7-hectare site. The new site has been completed with an investment of over EURO 20 million and is principally dedicated for the storage, preparation and distribution of pharmaceutical products with an additional unit built for future industrial activities.

The site's strategic location in the logistics hubs of the Auvergne Rhône-Alpes region is an advantage, along with the benefit of geographical proximity to Arrow's headquarters in Lyon. The unit will be operated by the logistics service provider GEODIS, continuing its historical partnership with Arrow.

Arrow's new site, which is in the Auvergne-Rhône-Alpes region, has the potential to improve the economic development in the area directly and indirectly through job creation. The facility will also provide the requisite infrastructure to support future growth in the region for Aurobindo, a global leader in the pharmaceutical space.

V.Muralidharan, President, European Operations at Aurobindo Pharma, said: "We are delighted to be reinforcing our commitment to the Auvergne-Rhône-Alpes region with the opening of our new facility in Saint Vulbas, in the heart of Europe, where Arrow is situated. With the help of talent and the resources available in the region, this facility will support our growth plans in the French market. Our investment in this state-of-the-art logistics hub will not only improve access to the Auvergne Rhône-Alpes region but importantly will create new jobs as well. This will help further fulfil our commitment to provide healthier life for patients and communities. We are delighted to welcome the Indian Ambassador to France and Monaco and other guests today to celebrate the opening of our new facility."

Shares of Aurobindo Pharma Ltd. was last trading in BSE at Rs. 726.55 as compared to the previous close of Rs. 724.8. The total number of shares traded during the day was 136619 in over 4746 trades.

The stock hit an intraday high of Rs. 736.6 and intraday low of 719.3. The net turnover during the day was Rs. 99898472.

Source : Equity Bulls

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