Stevanato Group Initiates Construction on New U.S. Facility
PIOMBINO DESE (PD), Italy--(BUSINESS WIRE)--Oct 4, 2021--
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.
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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CONTACT: Investor Relations
KEYWORD: INDIANA EUROPE UNITED STATES ITALY NORTH AMERICA
INDUSTRY KEYWORD: BIOTECHNOLOGY MEDICAL DEVICES HEALTH PHARMACEUTICAL MEDICAL SUPPLIES
SOURCE: Stevanato Group
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PUB: 10/04/2021 10:02 AM/DISC: 10/04/2021 10:02 AM