Stevanato Group Adding New Capacity in Italy Amid Growing Demand for Its Market-Leading Solutions
May 31 2022 - 4:01PM
Business Wire
Stevanato Group S.p.A. (NYSE: STVN) a leading global provider of
drug containment, drug delivery, and diagnostic solutions to the
pharmaceutical, biotechnology, and life sciences industries, today
announced the acquisition of a new industrial complex in Cisterna
di Latina, Italy. The new facility is expected to strengthen
Stevanato Group’s presence in Europe and expand the Company’s
production capabilities to satisfy increased demand for its
standard and premium products from high-growth customers.
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Stevanato Group's actual plant in Latina,
Italy (Photo: Business Wire)
“As our customers continue to advance specialized treatments and
patient care, the need for high-quality drug containment such as
our high-value solutions continues to grow. Our integrated
solutions resonate with our customers, and we aim to be the partner
of choice in the research and development of innovative
pharmaceutical delivery solutions,” said Franco Moro, Chief
Executive Officer of Stevanato Group. “For these reasons, we are
investing in our global network to expand our industrial footprint,
operations and premium-product capacity to match our customers’
needs.”
The new 65,000-square-meter brownfield facility will be partly
powered by renewable sources, adding production capabilities and
technologies to complement the Company’s existing plant in Latina,
Italy. The site will be dedicated to the production of standard and
EZ-fill® solutions, using Stevanato Group’s state-of-the-art
engineering technology and offering customers wider guarantees in
risk mitigation and supply chain robustness.
The company is expected to employ around 190 people in the new
Latina plant; production is planned to start in 2023 with the first
EZ-fill® lines will be operational from the second half of the same
year.
Franco Moro added, “We are strategically expanding in one of the
largest pharmaceutical hubs in Italy to serve our customers’
growing needs for EZ-fill® solutions and other products.”
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", "expects", “intended”, "plans" 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 size and use of
the plant, 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. 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/20220531005829/en/
Media Stevanato Group media@stevanatogroup.com
Investor Relations Lisa Miles
lisa.miles@stevanatogroup.com
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