Former US photo maker Eastman Kodak Co. will set up a new pharmaceutical components business with a $ 765 million (652.9 million) government loan, reports LETA.
A loan from the US International Development Finance Corporation (DCF) will finance the creation of Kodak Pharmaceuticals, which produces pharmaceutical components that have been identified as important but have faced a nationwide chronic deficit, DCF said.
The new company will produce up to 25% of the active pharmaceutical ingredients used in the manufacture of various medicines.
Kodak reports that the new pharmaceutical business will directly support 360 jobs and another 1,200 jobs will be indirectly supported.
The DFC loan is the first to be issued since US President Donald Trump signed an executive order in May to boost domestic production of materials needed to fight the coronary virus pandemic.
In January 2012, after 131 years of litigation, Kodak filed for bankruptcy, failing to compete during the digital camera revolution. A year later, Kodak went out of bankruptcy.
www.farmacija-mic.lv
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