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"The decision to stay in Höganäs is a consequence of the growing demand for the technology and capacity offered by the facility, which is somewhat unexpected, but we are of course delighted to see new customers come to Höganäs and to continue to provide existing customers, "says Thomas Eldered, CEO of Recipharmin a press release.
Growth in volume is expected to accelerate next year, according to the CEO, which indicates that this allows the company to offer a "complete and competitive" production capacity for powders and granules.
"Our skilled employees have demonstrated a high degree of commitment during this time and I am happy that they can continue to work for us," said Thomas Eldered.
Last year, Recipharm announced its intention to end the company's commitment to Höganäs and to evaluate various options for the plant, including a sale. Recently, new customers have actively contacted Recipharm and demand has increased in Höganäs.
Recently, a major contract was signed with a major European pharmaceutical group, including the development and launch of a new product. Recipharm hopes that the announcement made today of the continuation of its activities will facilitate the conclusion of contracts with new customers and offer opportunities to deepen relationships with existing customers.
Recipharm's business in Höganäs employs around 45 people and specializes in filling transport bags and backpacks, mainly for powder and granules.
The decision to retain the activity results in reverse bookings for closing costs. This will give a lower single income, which is reported in the third quarter results of 2018.
Recipharm is trading just under 0.2% soon after the announcement. The broad OMXSPI is down to almost 0.9 percent.
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