Patheon signs facilities management agreement with EMCOR Group, Inc. subsidiary
RESEARCH TRIANGLE PARK, NC, July 16 /CNW/ - Patheon Inc. (TSX: PTI)
announced today hat it has signed an agreement with EMCOR Facilities Services,
a subsidiary of EMCOR Group, Inc. (NYSE: EME) for facilities and energy
management services at its three US plants including Cincinnati, Ohio, and
Manati and Caguas, Puerto Rico.
Under the agreement, EMCOR Facilities Services will implement a
standardized facility, storeroom and energy management process for Patheon,
including creation of a computer maintenance management system with key
performance index and detailed financial and performance tracking. Patheon
anticipates that the contract could deliver over $3 million in cost savings
for Patheon over the next 18 months.
"Outsourcing these facilities management functions to EMCOR Facilities
Services enables us to focus on our core pharmaceutical business," explained
Wes Wheeler, Chief Executive Officer and President for Patheon. "Aside from
the significant cost savings, we expect to realize a host of strategic
objectives, including consolidation of our facility and storeroom vendor base
of 426 suppliers and increased opportunities for our facility maintenance
workforce when they become part of the EMCOR Facilities Services team."
Anthony J. Guzzi, President and COO of EMCOR Group, said, "We are very
excited for the opportunity to work in such a close partnership with a leading
and highly regarded pharmaceutical company. We look forward to assisting
Patheon in continuing to reach their strategic goals."
ABOUT PATHEON INC.
Patheon Inc. (TSX: PTI; www.patheon.com) is a leading global provider of
contract development and manufacturing services to the pharmaceutical
industry. Patheon prides itself in providing the highest quality products and
services to more than 300 pharmaceutical and biotechnology companies.
Patheon's services range from preclinical development through the commercial
manufacturing of a wide array of dosage forms including parenteral, solid,
semi-solid and liquids. Patheon's comprehensive range of fully integrated
Pharmaceutical Development Services includes pre-formulation, formulation,
analytical development, clinical manufacturing, scale-up and
commercialization. Patheon's ability to integrate development and
manufacturing services ensures that our customers' projects are delivered on
time and meet the high standards of quality that Patheon is known for.
Patheon's integrated development and manufacturing network of 10 facilities
and 7 development centers, across North America and Europe, strives to ensure
that customer products can be launched timely and confidently anywhere in the
world.
ABOUT EMCOR GROUP, INC.
A Fortune 500 company with estimated 2009 base revenues of $6.0 - $6.3
billion, EMCOR Group, Inc. (NYSE: EME) is a global leader in mechanical and
electrical construction, energy infrastructure, and facilities services. A
leading provider of critical infrastructure systems, EMCOR gives life to new
structures and sustains life in existing ones by its planning, installing,
operating, maintaining, and protecting the sophisticated and dynamic systems
that create facility environments - such as electrical, mechanical, lighting,
air conditioning, heating, security, fire protection, and power generation
systems - in virtually every sector of the economy and for a diverse range of
businesses, organizations and government. EMCOR represents a rare combination
of broad reach with local execution, combining the strength of an industry
leader with the knowledge and care of 170 locations. The 28,000 skilled
employees of EMCOR have made the company, in the eyes of leading business
publications, amongst the "World's Most Admired" and "Best Managed". EMCOR's
diversity - in terms of the services it provides, the industries it serves and
the geography it spans - has enabled it to create a stable platform for
sustained results. The Company's strong financial position has enabled it to
attract and retain among the best local and regional talent, to undertake and
complete the most ambitious projects, and to redefine and shape the future of
the construction and facilities services industry. Additional information on
EMCOR can be found at www.EMCORGroup.com.
Caution Concerning Forward-Looking Statements
This news release may contain forward-looking statements which reflect
management's expectations regarding the Company's future growth of operations,
performance (both operational and financial) and business prospects and
opportunities. These statements are made in the context of the risks and
uncertainties that are outlined in the Company's public documents, which can
be accessed on our website at www.patheon.com or on SEDAR at www.sedar.com.
%SEDAR: 00001700E
For further information: Mr. Wes Wheeler, President & Chief Executive
Officer, Tel: (919) 226-3200, Email: wes.wheeler@patheon.com; Mr. Eric Evans,
Chief Financial Officer, Tel: (919) 226-3200, Email: eric.evans@patheon.com