Bristol Myers Squibb strikes deal to sell NY site to South Korean conglomerate — but it’s keeping quiet on the details

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? 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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