- $7.2 million purchase to be followed by $4.5 million in capital improvements in 2015, all funded from company's existing cash with no debt - Facility renovation to boost company's R&D and manufacturing capacity and support significant expansion in employment - Facility acquisition lowers company's annual cost of occupancy, resulting in $0.02 per share in earnings accretion beginning in 2015
Squibb Company (NYSE:BMY) today announced plans to construct a new
state-of-the-art, large-scale biologics manufacturing facility in
Cruiserath, County Dublin, Ireland, that will produce multiple therapies
for the company’s growing biologics portfolio.
Philip Morris International Inc. (“PMI”) (NYSE / Euronext Paris: PM)
today officially opened its first pilot plant for the production of
potentially reduced-risk products (“RRPs”*). The pilot plant, just
outside Bologna in Zola Predosa, is now in operation, while PMI's first
manufacturing facility for larger scale production of RRPs is currently
under construction in Crespellano and is expected to be fully
operational by the end of 2016.
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