Minafin invests $18M to extend Minakem’s production capacity in France 13th March 2018
Minakem, the contract manufacturing division of Minafin, specialized in custom development and manufacturing of building blocks, intermediates and Active Pharmaceutical Ingredients (APIs) for the pharmaceutical industry, today announces that it has initiated the extension of its manufacturing capacity at its Dunkirk site in France.
The €14.5M ($18M) investment from parent company Minafin is the first of this magnitude. It will enable the company to set up a new production line, increasing production capacity by 28m3. In parallel, existing production assets are being upgraded in order to increase flexibility. This will free up an additional 26m3 production volume. In total, the production volume at the Dunkirk site will increase by 54m3 to a total capacity of 148m3.
“We are pleased to announce the initial phase of an additional production line at our Dunkirk site. Thanks to this major investment by the Minafin Group, we are excited by the growth potential for Minakem,” said Thierry van Nieuwenhove, CEO of Minakem. “It fits into our ‘Jump 21’ strategy and follows Minafin’s objective to increase overall production capacity at Minakem’s sites. This will also enable us to better respond to growing market needs and will undoubtedly contribute to the expansion of our product and service offering and to our growth.”
This investment comes at a time when Minakem is seeing an increasing number of innovations and new molecules hit the market, which is driving the need for more production capacity among quality suppliers in Europe.
More volume capacity means that Minakem can extend its product range and continue meeting client expectations in terms of international standards and flexibility. The increased volume will also enable Minakem to remain competitive as a supplier of active ingredients to the pharmaceutical industry.
The engineering phase has already started on the site; a former AstraZeneca facility that Minakem bought in 2009. It meets the highest standard requirements from all authorities worldwide. Commission tests are planned for early 2019, with an expected operational starting date in May 2019.
A previous investment of €1.5M ($1.9M) was made by Minafin in 2016 to ensure continuous flow manufacturing and increased capacity in cryogenic production.
The global pharmaceutical fine chemicals market was valued at $78.20 billion (€63.6bn) in 2016. An aging population along with rising health consciousness among consumers is expected to propel growth over the next ten years. The supply structure of the pharmaceutical fine chemicals market is highly fragmented. With a diverse and large supplier base, several companies are expanding or adding capabilities.