Dec 12: New manufacturing and storage facility for Vindon Healthcare PLC
Vindon Healthcare plc is pleased to announce that they have signed contracts with Wilson Bowden plc for the construction of a larger purpose built manufacturing and storage facility on the 420 acre Kingsway business park, which is close to the M62 in Rochdale, Greater Manchester.
The new facility (29,480 sq ft), which will be ready for use by the Autumn of 2008, will provide Vindon with a significant new platform for future growth enabling it to not only expand its manufacturing capacity by two fold but also, and strategically more importantly, to provide a best-in-class storage and disaster recovery facility for the UK and European Pharmaceutical and Biotechnology Industry. The new storage capacity will be sufficient to store nearly five times existing utilised capacity.
The Board is confident that it can, with this enhanced service offering, add to its burgeoning client base and capitalise upon the continued trend towards outsourcing within the Pharmaceutical and Biotechnology Industry.
Total costs for the project, including fit-out, are estimated to be £3.3m. This will be funded by a new debt facility of £1.4m together with the proceeds of a placing which took place on 9 May 2007 which raised a net £1.9m after costs. There will be further funds available to the Group once the sale of the existing site in Diggle takes place.
Liam Ferguson, Chairman of Vindon, commented:
“We are very encouraged by the prospect of this new storage and manufacturing facility. It will provide the platform for us to pursue our strategy for growth, whilst enabling us to continue to grow our existing client base”
The Board is confident that it can, with this enhanced service offering, add to its burgeoning client base and capitalise upon the continued trend towards outsourcing within the Pharmaceutical and Biotechnology Industry.
Total costs for the project, including fit-out, are estimated to be £3.3m. This will be funded by a new debt facility of £1.4m together with the proceeds of a placing which took place on 9 May 2007 which raised a net £1.9m after costs. There will be further funds available to the Group once the sale of the existing site in Diggle takes place.
Liam Ferguson, Chairman of Vindon, commented:
“We are very encouraged by the prospect of this new storage and manufacturing facility. It will provide the platform for us to pursue our strategy for growth, whilst enabling us to continue to grow our existing client base”
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