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Federal, State and Local Officials Join AMPAC Fine Chemicals in Celebrating Re-Opening of Facility Operations in Petersburg, VA

June 17, 2019

PETERSBURG, Va.--(BUSINESS WIRE)--Jun 17, 2019--

AMPAC Fine Chemicals (AFC), a leading manufacturer of Active Pharmaceutical Ingredients (APIs) in the United States, was joined Monday by Virginia Senator Rosalyn Dance, Petersburg Mayor Samuel Parham and staff of US Senators Mark Warner and Tim Kaine, Congressman Donald McEachin and Delegate Lashrecse Aird for a ribbon cutting ceremony celebrating the company’s re-opening of manufacturing operations at its pharmaceutical ingredient facility, including upgrades to state-of-the-art technology and infrastructure refurbishment in the plant in Petersburg, VA.

“Today’s ribbon cutting marks an important step in AFC’s growing economic investment in the US, and Virginia, as well as our commitment to developing new community partnerships,” said Dr. Aslam Malik, AFC President and CEO. “We are excited to re-open the facility and broaden our capabilities in Petersburg, VA, allowing us to employ more local residents and manufacture critical pharmaceutical ingredients for lifesaving therapies.”

Located on nearly 200 acres inside Petersburg’s industrial complex, the facility has 50,000 gallons of total capacity and will generate more than 110 new jobs over the next few years for positions ranging from custodial care to chemical engineering. Additionally, indirect jobs to support further updating the facility have been onsite. AFC is committed to a diverse and inclusive workplace that represents best-in-class employees from Petersburg and the surrounding Richmond metropolitan area.

“AFC’s updated facility boasts state-of-the-art technology that we hope will attract more talent and new business in Petersburg,” said Congressman A. Donald McEachin. “I applaud AFC for investing in ways that will help support important community services, students, educational institutions, workers and Virginia’s future.”

The pharmaceutical ingredients manufactured at the facility will be supplied to large and small pharmaceutical companies across the US and are critical components of medicines treating patients with such life-threatening conditions as central nervous system deficiencies, cancer and epilepsy.

In addition to increasing its manufacturing capabilities, AFC will deepen its community engagement through local education partnerships and philanthropic initiatives. During the ceremony, AFC presented a donation to the Petersburg Police Chief and Managing Director of Public Safety of a Self-Contained Breathing Apparatus (SCBA) recharge device that will enable firefighters to refill air tanks on site of a fire.

In addition to US, Virginia and local officials, the ceremony was attended by more than 100 guests, along with AFC employees who enjoyed a community lunch after the event in celebration. AFC was recently acquired by SK Holdings, an investment holding company of SK Group, headquartered in Seoul, South Korea and is the largest M&A transaction announced in the Korean pharmaceutical industry to date.

ABOUT AMPAC FINE CHEMICALS LLC

AFC is a U.S.-based company with demonstrated capabilities in process development, scale-up, and cGMP-compliant commercial production of active pharmaceutical ingredients and registered intermediates for pharmaceutical and biotechnology customers. AFC is a portfolio company of SK Holdings (Seoul, Korea) and serves as a strategic part of SK’s growing pharmaceutical sector. AFC’s specially engineered facilities and experienced staff allow AFC to safely produce highly-energetic compounds at commercial scale. In addition, AFC’s other technology platforms include production of highly potent compounds, continuous processes and industrial-scale chromatographic separation using simulated moving bed chromatography and Analytical Services to the Pharmaceutical Industry. AFC’s operations are in Rancho Cordova & El Dorado Hills CA, in La Porte, Texas and in Petersburg, VA. Additional information about us can be obtained by visiting our web site ampacfinechemicals.com. Contact: Patrick Park +1 (916) 357-6376 SOURCE: AMPAC Fine Chemicals (AFC)

ABOUT SK HOLDINGS

SK Holdings continues to enhance its portfolio value by executing long-term strategic investments with a number of competitive subsidiaries in various business areas, including pharmaceuticals and life sciences, energy and chemicals, information and telecommunications, and semiconductors. In addition, SK Holdings is focused on reinforcing its growth foundations through practical management based on financial stability, while raising its enterprise value by investing in new future growth businesses. For more information, please visit http://www.sk.com/en/index.jsp.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190617005489/en/

Patrick Park +1 (916) 357-6376

KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA

INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY PHARMACEUTICAL

SOURCE: AMPAC Fine Chemicals (AFC)

Copyright Business Wire 2019.

PUB: 06/17/2019 10:00 AM/DISC: 06/17/2019 10:01 AM

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