Strides Polska completes acquisition process of sterile unit
Mumbai, May 18 (UNI) Strides Polska, the Polish arm of Strides Arcolab Limited, has completed the acquisition of the former ICN Valeant Sterile manufacturing unit in Warsaw, Poland.
In a communique to the Bombay Stock Exchange (BSE), Strides Arcolab informed that the acquisition now releases Strides Polska to begin the expansion of its operations in Eastern Europe as a part of Strides Global Network.
Mr Paul Moore, President, Global Manufacturing, Strides, said that ''This addition further strengthens Strides' presence in Europe and allows us to focus on developing the Polish operations into a strategic part of our manufacturing network, as well as allowing us to promote our products and services in the ''New Europe''.'' As a part of Strides' planned expansion, the company plans to set up a state-of-the-art sterile facility which will lead to increased production capabilities for the Strides group with a focus on the European markets.
''We intend to utilise the unit and its team to supply on a global basis, teaming up with our other plants worldwide. Our planned investments will increase present production capacity as well as introducing new sterile dose forms to the site,'' Mr Moore said.
The Strides Group plans to install additional and new capacity in sterile dose form at the plant which will enable Strides Polska to supply to global as well as European markets. The expansion is expected to lead to an enlargement of the workforce and Strides Polska is expecting this expansion phase to be completed by early 2007.
Strides already has a significant manufacturing position in North and South America, in addition to its plants in India. The addition of Strides Polska's facility to its global network has now added to its European operations which started with the acquisition of the Italian pharmaceutical plant, Beltapharm, in 2006, the communique pointed out.
UNI JJ PM AW1408