|Vetter execs break ground at the Schuetzenstrasse site|
Vetter, a privately held CDMO, broke ground this week on a new $79 million (€71 million) facility at its Schuetzenstrasse site in Ravensburg, Germany. The construction is part of the company's planned infrastructure investment strategy announced in September.
The 86,000-square-foot building, which is scheduled for completion in the first quarter of 2018, will include a cleanroom with supportive media systems, as well as the site's central material preparation, office space and a staff canteen, the company said in a release.
"This addition to our Schuetzenstrasse site is an exciting chapter in our company's history and will again support Vetter's target to offer its customers the adequate high manufacturing quality for their high value drugs," Thomas Otto, Vetter's managing director, said in a statement.
Earlier this year, the company finished work on a 91,500-square-foot multipurpose facility at the Schuetzenstrasse site that serves as a data processing center with incorporated laboratory space and offices.
Vetter announced last fall that is was embarking on a 5-year, $335 million (€300 million) expansion that included expansion of its Ravensburg West and East operations. In addition to its plants in Germany, Vetter has operations in the Chicago area, Singapore and Japan. The company reported a 10% growth in sales last year, and 9 drug approvals, the company said.
- here's the release