Stevanato Group Adding New Capacity in Italy Amid Growing Demand for Its Market-Leading Solutions
PIOMBINO DESE, Italy--(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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220531005829/en/
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.
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.
Source: Stevanato Group S.p.A.
Released May 31, 2022