Abbott Laboratories Opens Industrial Plant

San Jose, Costa Rica – March 17, 2000 – Today Abbott Laboratories opened its new industrial plant for manufacturing hospital products. On this important occasion the company had the honor of welcoming the President of the Republic, Miguel Angel Rodriguez, who cut the ribbon at the ceremony for the inauguration of the new plant, equipped with leading-edge technology.

Mr. Robert L. Parkinson, Jr., President and General Manager of Abbott Laboratories, and Richard Gonzalez, Senior Vice-President of Abbott Laboratories, were also present. Parkinson declared: "To us this represents the beginning of a major and long-lasting relationship with Costa Rica and its citizens".

In March 1999 Abbott laid the foundation stone for the plant, beginning its construction. Parkinson added: "If it were not for the wonderful people of this country, this excellent industrial plant would not be a reality today. One of the most important reasons why we decided to start developing our company here is the excellence of the labor force, which is highly qualified and efficient, as we have seen. We hope to grow hand-in-hand with Costa Rica for many more years to come".

The new industrial plant is located in Parque Global, a free-zone industrial park located in Barreal de Heredia. Abbott’s plant occupies approximately 23.000 m2, built on a 14-hectare piece of land. At present, Abbott provides employment to 352 full-time workers, and 400 more will be hired during the first year of operations.

Abbott’s plant in Costa Rica will produce some of the most advanced medical products in the world, including devices for control and administration of intravenous medicines, which will greatly contribute to the quality of medical services provided to people in many countries.

Abbott’s Division of Hospital Products is made up of five main divisions, including Intensive and Palliative Care, Oncology, Vascular Medicine, Renal Medicine, and Pharmaceutical Delivery. The division provides employment to 13,000 people in eleven different places around the world. In 1999 the division’s sales amounted to two billion dollars.

Abbott is a company specializing in global health, diversified and dedicated to the discovery, development, manufacture and commercialization of hospital, pharmaceutical, diagnostic, and food products. The company employs 57,000 people and sells its products in more than 130 countries. In 1999, the company’s sales and net income were 13.2 billion dollars and 2.4 billion dollars, respectively, with deluted earnings per share of $1.57.

Copyright 2000