Vetter has secured a triple-digit million euro syndicated loan with a consortium of banks led by Deutsche Bank AG, the Landesbank Baden-Württemberg, and Commerzbank AG. The five-year credit facility will provide for additional investments in its facilities and production capacities including new filling capacity, as well as modernizing and expanding existing facilities.
Recent expansion efforts include the establishment of the new production site Ravensburg Vetter South, and the opening of its first clinical development facility in the U.S. in Chicago, IL. As a result, Vetter has created more than 300 new jobs this past year.
“This syndicated loan allows for continuous investment in our company and keeps us strategically well positioned for the future,” said Max Horn, Managing Director at Vetter. “Therefore, combined with our own financial strength, this multi-million-credit facility, from renowned business banks, gives us the financial basis we need. We always seek to use most innovative technologies and processes available within the industry. To do so means that we must continue to adapt our facilities to meet the markets ever-increasing capacity and quality requirements. Such expansion not only provides our customers security of supply but also safeguards jobs for our employees. With this syndicated loan, we have secured our position as a key strategic partner for the development and filling of drugs for our clients now and in the future.”