Bristol Myers Squibb’s manufacturing facility in East Syracuse, NY, is about to be swallowed up by one of the largest conglomerates in South Korea.
Lotte Corporation and BMS unveiled a fresh deal for the site on Friday while keeping most of the details — including the financing — under wraps. BMS even declined to disclose the site’s square footage in an email to Endpoints News.
Meanwhile, South Korea’s Yonhap News Agency reported that the deal cost Lotte $160 million. In return, the conglomerate gets the site, equipment and a workforce with “technical capabilities and expertise.”
How many people is that? Syracuse.com reported that a team of around 400 people will all become Lotte employees upon closing.
BMS isn’t going far, though. Lotte will continue to manufacture products for the pharma giant — $220 million worth over the next three years, according to Yonhap. The…
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