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Biz News Korea(Eng)
SK Biotek to quintuple its capacity to manufacture pharma products
- Collected
- 2016.05.12
- Distributed
- 2016.05.16
- Source
- Go Direct
The company announced on Wednesday that it held a groundbreaking ceremony for a new production line in Myeonghak Industrial Complex in Sejong City, South Chungcheong Province. The expansion of facilities on a site of 83,712 square meters is scheduled to be completed in three stages by 2020, with the first stage to be finished by 2017. Once completed, the company’s production capacity will reach 800,000 liters, a five-fold increase from the current 160,000 liters.
SK Holdings added 40 billion won ($34 million) to capital to finance the expansion project. SK Biotek was integrated into SK Holdings as an immediate subsidiary in late February.
SK Biotek wants to achieve 110 billion won in sales and 27 billion won in operating profit this year. The company expects sales will grow to 130 billion won next year and to 1.5 trillion won in 2020.
“The expansion plan is a must now because existing facilities are fully used in Daeduk Research Complex. We will see a rapid growth as global pharmaceutical companies are focusing more on drug development and outsourcing the development of synthetic drug processes to external companies,” said an SK Biotek official.
By Chung wook and Shin Chan-ok
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