Volume 89 Issue 36 | p. 29 | Concentrates
Issue Date: September 5, 2011

Fareva To Buy Pfizer Consumer Goods Plant

Department: Business
News Channels: Biological SCENE

Fareva, a contract manufacturer with headquarters in Luxembourg, has agreed to acquire Pfizer’s consumer products facility near Richmond, Va., for an undisclosed sum. Fareva plans to invest $42 million to expand the plant. The companies have also signed an agreement under which Fareva will continue to make consumer products for Pfizer. The 500 Pfizer employees at the plant will transfer to Fareva, and 90 positions will be added. “We have been looking for the right opportunity to expand our manufacturing footprint into North America,” says Fareva CEO Bernard Fraisse.

 
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ISSN 0009-2347
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