MEP Simon Busuttil has praised Toly Products' ability to cope with EU membership and its preparedness to adopt the euro.

He was speaking during a visit to the cosmetics manufacturing company at Bulebel industrial estate, yesterday.

"The euro is another leap forward in exploiting a market that multiplied from half a million to half a billion consumers," Dr Busuttil said.

Toly chairman William Wait explained the progress registered by the company since it started operations in 1971.

Today the company employs 400 people in Malta. Toly is 100 per cent export-oriented, with 85 per cent of its products going to the European Union.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.