Almac Group announces £27 million global expansion
pharmafile | November 11, 2016 | News story | Medical Communications, Sales and Marketing | Almac Group, investment
Almac Group, a global contract pharmaceutical development and manufacturing organisation, has announced that it will spend £27 million in a bid to expand its operations in Europe and North America.
The expansion will primarily be focused on a £20 million expansion to its US headquarters site in Souderton, Pennsylvania. The development will see it expand its existing site and lease a further office space nearby. The expansion will create 312 new jobs in the local area.
Almac will also invest in its global headquarters site in Craigavon, Northern Ireland. Almac will invest £5 million to build an additional laboratory and office facility. Currently, the Almac group employs over 4,600 staff globally and predicts that this will rise to 5,000 by the end of 2017. This increase will see Almac have the largest global workforce of Northern Ireland firms.
The move caps a successful year for the business that saw turnover rise by 15% and report pre-tax profits of close to £28 million.
Alan Armstrong, CEO Almac Group commented “Due to significant industry demand for our services it is essential we build capacity and increase headcount to ensure we continue to compete at a global level. This year we are celebrating our twentieth year in the US and we are excited to make a further commitment within the Pennsylvania State and throughout North America. We are also delighted to announce our further expansion plans across Europe as we continue to build upon our tremendous global success and we are looking forward to an exciting future.”
Ben Hargreaves
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