Stevanato Group Initiates Construction on New U.S. Facility
October 04 2021 - 10:02AM
Business Wire
Construction
on Fishers, Indiana plant to commence this month and is expected to
be completed in 2023
State-of-the-art manufacturing operations to
enable Stevanato Group to better serve North America pharmaceutical
customers
Stevanato Group (NYSE:STVN), a global provider of drug
containment, drug delivery and diagnostic solutions to the
pharmaceutical, biotechnology and life sciences industries, today
announced that it will begin construction on its new U.S. facility
in Fishers, Indiana, this month. The site, expected to be
operational in 2023, is expected to enable Stevanato Group to be in
closer proximity to its North America pharmaceutical customers and
to provide an additional supply source for its mission critical
products to serve customers better.
Stevanato Group expects to invest approximatively $145 million
to build and equip the manufacturing facility. The plant, which is
expected to be up to 370,000 square feet, will support the
expansion and production of Stevanato Group’s EZ-Fill® solutions,
pre-sterilized drug containment systems for pharmaceutical use. The
facility is expected to house state-of-the-art production lines
equipped with advanced process technologies to produce EZ-Fill®
syringes and vials. Stevanato Group’s EZ-Fill® solutions offer
significant benefits to pharmaceutical companies by reducing time
to market, lowering the overall total cost of ownership and
reducing supply chain risk.
In addition, we plan to use the new facility as a center for
after-sales support dedicated to serving its North America
engineering customers, offering technical support as well as
maintenance for visual inspection, assembly and packaging
equipment.
The new Fishers plant is expected to enhance Stevanato Group’s
North America footprint by allowing it to serve customers with an
integrated approach, from design and development through
commercialization. Stevanato Group plans to do this through the
combined capabilities of its Technology Excellence Center based in
Boston, offering scientific analytical capabilities; the Indiana
EZ-Fill® hub, delivering drug containment solutions that drive real
value; and its device manufacturing facility in California.
On September 23, 2021, Stevanato Group celebrated the new plant
with a groundbreaking ceremony in Fishers attended by Indiana
Governor Eric J. Holcomb, Fishers Mayor Scott Fadness and other
local guests.
“Indiana continues to secure extraordinary growth in life
sciences throughout the state, and we’re excited to partner with
Stevanato Group and add it to our list of innovative life sciences
companies,” said Governor Eric J. Holcomb during the event. “As a
high-tech hub for life science innovation, Indiana and Fishers are
committed to ensuring a thriving business climate and allowing
these firms to push boundaries, continue to grow, innovate and
bring value to the community."
“We are thrilled to begin construction on our new U.S. hub, and
expand our presence in one of the fastest growing markets where we
see increasing demand. We believe this will allow us to further
enhance our services to our valued North America customers and
underscores our desire to ensure supply chain security, just in
time delivery and reliable sourcing in terms of surge capacity,”
said Franco Moro, Stevanato Group Chief Executive Officer. “We are
proud to join the Fishers community. This is an exciting
achievement for our company, and we look forward to continuing to
enable our customers – in the U.S. and around the world – to
deliver safe and effective treatments to patients.”
Stevanato Group’s facility is expected to be part of a new
pharmaceutical and life sciences park in Fishers, and the company
intends to hire more than 230 new local employees by the end of
2025 for roles in production, engineering and maintenance, as well
as other corporate support positions.
About Stevanato Group
Founded in 1949, Stevanato Group is a leading global provider of
drug containment, drug delivery and diagnostic solutions to the
pharmaceutical, biotechnology and life sciences industries. The
Group delivers an integrated, end-to-end portfolio of products,
processes and services that address customer needs across the
entire drug life cycle at each of the development, clinical and
commercial stages. Stevanato Group’s core capabilities in
scientific research and development, its commitment to technical
innovation and its engineering excellence are central to its
ability to offer value added solutions to clients. To learn more,
visit stevanatogroup.com.
Forward-Looking Statements
This press release may include forward-looking statements. The
words "expected", "intends", "plan", “believe” and similar
expressions (or their negative) identify certain of these
forward-looking statements. These forward-looking statements are
statements regarding the Company's intentions, beliefs or current
expectations concerning, among other things, the construction and
timing of its plant, impact of the plant of the Company’s business
and results of operations and the nature of the plant once
complete. The forward-looking statements in this press release are
based on numerous assumptions regarding the Company’s present and
future business strategies and the environment in which the Company
will operate in the future. Forward-looking statements involve
inherent known and unknown risks, uncertainties and contingencies
because they relate to events and depend on circumstances that may
or may not occur in the future and may cause the actual results,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward looking
statements. Many of these risks and uncertainties relate to factors
that are beyond the Company's ability to control or estimate
precisely, such as future market conditions, currency fluctuations,
the behavior of other market participants, the actions of
regulators and other factors such as the Company's ability to
continue to obtain financing to meet its liquidity needs, changes
in the political, social and regulatory framework in which the
Company operates or in economic or technological trends or
conditions. In particular, the Company may determine not to conduct
a registered initial public offering in the time frame that it
currently expects or at all, due to a number of potential important
factors, including conditions in the U.S. capital markets, negative
global economic conditions, potential negative developments in the
Company’s business, or unfavorable or regulatory developments.
Readers should therefore not place undue reliance on these
statements, particularly not in connection with any contract or
investment decision. Except as required by law, the company assumes
no obligation to update any such forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20211004005606/en/
Investor Relations Lisa Miles
lisa.miles@stevanatogroup.com
Media Stevanato Group media@stevanatogroup.com
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