9 March 2012
Neptune Technologies & Bioressources investing over $20M in Sherbrooke
In the presence of the prime minister of Québec, Jean Charest,Neptune Technologie & Bioressources and Sherbrooke Innopole are pleases to announce that the company will finalize its expansion plans in its Sherbooke plant, generating an investment of more than twenty million dollars and creating at least 40 new jobs.
Neptune Technologies & Bioressources objective (NASDAQ: NEPT) (TSX: NTB) is to triple its production capacity of its plant by enlarging its facilities on Pepin Street. The first phase is expected to be completed by November 2012, the excavation began last December. For its expansion project, Neptune counted on the financial support of Sherbrooke Innopole, Desjardins Business Center and both levels of government.
In addition to the 90 to 100 people employed during the construction, the entire project will create more than 40 permanent jobs in Sherbrooke while combining the 65 existing positions. “The spinoff of this project is significant because not only will this create specialist positions, it will also strengthen Sherbrooke’s position as a major player of Life Sciences, a state of the art sector for economic development, “says Pierre Bélanger, General Director of Sherbrooke Innopole.
The new two-level building with an area of 40’000 square feet will almost entirely be dedicated to the processes, in addition to the existing 12’00 square feet facility which accommodates labs, administrative offices and the current production facility. “The structure of the new plant is very innovative in that it makes way for automation since the process will allow the central freezer to supply the production line towards the building’s extremities. This will allow greater flexibility for our production lines and improved efficiency, while also leaving space for future investments”, says Eric Simard Vice-President of Science and Development at Neptune.
“This excellent news further confirms the relevance of our economic development strategy, based on key sectors. To logistically and financially support an innovative company like Neptune, not only contributes to the success of the company on the international scene, but also positions Sherbrooke in this state of the art sector, states Pierre Bélanger, General Director of Sherbrooke Innopole.
Neptune has always had an innovative approach, using the most advanced technology to achieve the highest level of productivity, efficiency and quality. The benefits recognized by Health Canada on cardiovascular health, inflammation and woman’s health provide us with a competitive edge for our international development. These investments will result in strengthening our position within the industry and open new markets. We are extremely enthusiastic in regards to this growth strategy”, stated the President and CEO, Mr. Henri Harland.
For his part, Mr. Alain Girard, director of the Laval Desjardins Business Center, highlights that he is very proud to count Neptune as one of his clients. It is all Desjardins who is behind this service offer. This dynamic and successful company has found with us business solutions worthy of their ambitions. We are celebrating their accomplishment and wish them great success.
Neptune Technologies & Bioressources began its operation in 1998, by developing a patented process for the extraction of marine biomasses. The company produces premium krill oil, mainly composed of phospholipids, antioxidants and omega-3. Krill oil (Neptune Krill Oil : NKO®) is sold in drums or softgels around the world. Among many others, Jamieson Laboratories commercializes NKO® in Canada under the Omega-3 Super Krill Brand and Lalco under the PurKrill Brand. Other distributors commercialize in the United States, in Europe, Asia and Australia under their own brands.
About Neptune Technologies & Bioressources Inc.
Neptune is an industry-recognized leader in the innovation, production and formulation of science-based and clinically proven novel phospholipid products for the nutraceutical and pharmaceutical markets. The Company focuses on growing consumer health markets including cardiovascular, inflammatory and neurological diseases driven by consumers taking a more proactive approach to managing health and preventing disease. The Company sponsors clinical trials aimed to demonstrate its product health benefits and to obtain regulatory approval for label health claims. Neptune is continuously expanding its intellectual property portfolio as well as clinical studies and regulatory approvals. Neptune’s products are marketed and distributed in over 30 countries worldwide.
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