Establishment of a life sciences centre of excellence will significantly expand Pall's capacity on the island, enhancing its ability to meet the increasing demand for its high quality technologies
Pall announces plans to expand its life sciences manufacturing operations in Fajardo, Puerto Rico.
The planned establishment of a life sciences centre of excellence will significantly expand Pall's capacity on the island, enhancing its ability to meet the increasing demand for its high quality technologies by the world's leading pharmaceutical and biotechnology companies, blood centers and hospitals.
Pall expects to invest around $50 million in facilities, machinery and equipment and add more than 250 full-time jobs in Puerto Rico by the year 2010.
Anibal Acevedo-Vila, governor of the commonwealth of Puerto Rico and Eric Krasnoff, chairman and CEO of Pall made the announcement at the Pall Fajardo plant.
The expansion in Puerto Rico is another step in Pall's standardisation and consolidation of its global manufacturing footprint.
The company anticipates that Puerto Rico's competitive tax rate combined with its facilities optimisation programme will result in an incremental after tax benefit of more than $10 million annually in three years.
"Puerto Rico's attractive business climate and strong commitment to developing biopharmaceutical manufacturing capability are key factors in bringing numerous drug and biotechnology companies to the island.
"Expanding our operations in Puerto Rico is an important part of our strategic approach of aligning with customers worldwide and increasing production in lower tax rate jurisdictions," says Krasnoff.
Pall's BioPharmaceuticals business, which represents 15% of total sales, has been growing by double-digits as an increasing number of drugs go into production and the company's market share grows.
"We are extremely pleased by Pall's decision to expand in Puerto Rico as it enables us to retain a preeminent supplier to the global biopharmaceutical manufacturing industry.
"We will continue to work together to assure Pall's welcome here as its presence is a critical component in helping us meet our roadmap goal of extending Puerto Rico capabilities across the entire life sciences value chain," says Boris Jaskille, executive director of the Puerto Rico Industrial Development Company (Pridco).
