Dec 13: £3.3m deal for Vindon HQ
VINDON Healthcare, which makes blood banks, plant and drug storage chambers, fridges and freezers for pharmaceutical, food and life science companies, has secured a £3.3m deal for new headquarters.
The AIM-listed business, which has a market value of £14m and employs around 40 staff, has outgrown its premises in Diggle, Oldham.
Now Vindon has signed a contract with developer Wilson Bowden for the construction of a purpose-built facility on Rochdale's Kingsway Business Park.
In a stock market statement, Vindon said the site should be ready for use by next autumn and will provide the firm with a platform for growth, enabling it to increase manufacturing capacity and provide a storage and disaster recovery service for pharmaceutical and biotech companies across Europe.
"The board is confident that it can, with this enhanced service offering, add to its burgeoning client base and capitalise upon the trend towards outsourcing," the company added.
Vindon, whose clients include AstraZeneca and GlaxoSmithKline, will fund the new headquarters with £1.4m of debt and the proceeds of a share placing last May, which raised £1.9m.
Kevin Feddy
The AIM-listed business, which has a market value of £14m and employs around 40 staff, has outgrown its premises in Diggle, Oldham.
Now Vindon has signed a contract with developer Wilson Bowden for the construction of a purpose-built facility on Rochdale's Kingsway Business Park.
In a stock market statement, Vindon said the site should be ready for use by next autumn and will provide the firm with a platform for growth, enabling it to increase manufacturing capacity and provide a storage and disaster recovery service for pharmaceutical and biotech companies across Europe.
"The board is confident that it can, with this enhanced service offering, add to its burgeoning client base and capitalise upon the trend towards outsourcing," the company added.
Vindon, whose clients include AstraZeneca and GlaxoSmithKline, will fund the new headquarters with £1.4m of debt and the proceeds of a share placing last May, which raised £1.9m.
Kevin Feddy
Dec 12: Vindon Healthcare Buys Storage Facility
LONDON (Dow Jones)--Vindon Healthcare said Wednesday that they have signed contracts with Wilson Bowden for the construction of a manufacturing and storage facility on the 420 acre Kingsway business park, in Rochdale, Greater Manchester, for a cost of GBP3.3 million.
It also announced a new debt facility of GBP1.4 million.
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, the company said.
It will enable it to not only expand its manufacturing capacity by two fold but also to provide a best-in-class storage and disaster recovery facility for the U.K. and European Pharmaceutical and Biotechnology Industry, it said.
The new storage capacity will be sufficient to store nearly five times existing utilised capacity.
Total costs for the project, including fit-out, are estimated to be GBP3.3 million.
This will be funded by a new debt facility of GBP1.4 million together with the proceeds of a placing which took place on May 9 this year which raised a net GBP1.9 million after costs.
There will be further funds available to the Group once the sale of the existing site in Diggle takes place, the company said.
It also announced a new debt facility of GBP1.4 million.
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, the company said.
It will enable it to not only expand its manufacturing capacity by two fold but also to provide a best-in-class storage and disaster recovery facility for the U.K. and European Pharmaceutical and Biotechnology Industry, it said.
The new storage capacity will be sufficient to store nearly five times existing utilised capacity.
Total costs for the project, including fit-out, are estimated to be GBP3.3 million.
This will be funded by a new debt facility of GBP1.4 million together with the proceeds of a placing which took place on May 9 this year which raised a net GBP1.9 million after costs.
There will be further funds available to the Group once the sale of the existing site in Diggle takes place, the company said.
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. Read More
