11.30.12
AMRI is consolidating its in vitro biology services under its drug discovery platform as part of its SMARTSOURCING strategy. AMRI will close its Bothell, WA site and transition its biology capabilities to its fully integrated discovery location in Singapore, while certain analytical capabilities will be consolidated into AMRI's analytical quality group in Albany, NY. The Bothell site has 24 employees.
AMRI will incur approximately $11 million in charges related to workforce reductions and transition activities. AMRI expects the consolidation will generate annual savings of approximately $2 million. The Bothell site will cease operations by the end of 1Q13 and the realignment will be phased in during the next several months.
"By further aligning and integrating our global biology services, AMRI continues to address and anticipate changes in the marketplace, strengthening our position as a premier provider of integrated drug discovery services," said Thomas E. D'Ambra, Ph.D., AMRI's chairman, president and chief executive officer. "Already our SMARTSOURCING initiatives are proving effective as evidenced by expanded contract services opportunities; this next move provides us the potential to better pursue these opportunities as we enter 2013. We will continue to focus on improving our cost structure and capabilities in order to build stronger and long-term relationships with existing and new customers."
AMRI will incur approximately $11 million in charges related to workforce reductions and transition activities. AMRI expects the consolidation will generate annual savings of approximately $2 million. The Bothell site will cease operations by the end of 1Q13 and the realignment will be phased in during the next several months.
"By further aligning and integrating our global biology services, AMRI continues to address and anticipate changes in the marketplace, strengthening our position as a premier provider of integrated drug discovery services," said Thomas E. D'Ambra, Ph.D., AMRI's chairman, president and chief executive officer. "Already our SMARTSOURCING initiatives are proving effective as evidenced by expanded contract services opportunities; this next move provides us the potential to better pursue these opportunities as we enter 2013. We will continue to focus on improving our cost structure and capabilities in order to build stronger and long-term relationships with existing and new customers."
