Neptune Starts Phase-I Sherbrooke Plant Expansion
13 December 2011 - 12:00AM
Neptune Technologies and Bioressources Inc. (Nasdaq:NEPT)
(TSX-V:NTB) announces the official start of its Phase I plant
expansion, generating within a year an additional production
capacity of more than 150,000kg per year.
"In order to meet the increasing demand for its products,
Neptune will undergo a 40,000 square-feet expansion at its existing
facility in Sherbrooke, Quebec. Neptune's plant expansion will be
executed in two phases, allowing production up to 500,000kg of
Neptune Krill oil per year. Neptune's Phase I plant expansion,
which is expected to be completed by fall 2012, should create new
jobs in the Sherbrooke region and its economy. The project is
expected to employ approximately 40 new workers directly and will
result in the hiring of approximately 90 to 100 persons during the
construction period," said Eric Simard, Director of Science and
Development and in charge of the expansion project. "Neptune has
always been innovative using state of the art technology, in order
to reach the highest level of productivity and efficiency," he
added.
Josee Blanchard, Director of business development for Life
Sciences at Sherbrooke Innopole, adds: "Great economic benefits
will come from this project because not only will it create
specialized jobs, but it strengthens the position of Sherbrooke as
an important player in the Life sciences cluster, a strategic
economic development sector. Everyone pulled together to bring this
project to life and we are extremely happy with today's
announcement."
"We have planned and structured a creative financing model, with
the support of many parties as well as our bank," said Frederic
Harland, Director of Finance. "The expansion project will be
financed through a mix of standard loans, interest-free loans
subsidies and by a cash contribution of Neptune for approximately
20% of the total cost by using part of the proceeds of its May 2011
financing. More details will be provided at a press conference to
be held in Sherbrooke during the first quarter of 2012," he
added.
"Today's investment allows for new process improvements at our
manufacturing facility, strengthening thereby our manufacturing
position based on our patent and industrial secrets, and enabling
Neptune's capacity to provide its customers a reliable supply of
the world's leading Neptune Krill Oils," said Andre Godin, CFO.
"This new production line will secure supply for the increasing
demand, allowing for incremental gross margin, as well as providing
additional production capacity for new products currently under
development. This increase in production capacity will be completed
without any interruption of the existing production line. Neptune's
team has extensively worked on this expansion project; it is an
exciting moment and a further reaffirmation of our growth action
plan strategy," added the CFO.
About Neptune Technologies & Bioressources
Inc.
Neptune is an industry-recognized leader in the innovation,
production and formulation of science-based and clinically proven
novel phospholipid products for the nutraceutical and
pharmaceutical markets. The Company focuses on growing consumer
health markets including cardiovascular, inflammatory and
neurological diseases driven by consumers taking a more proactive
approach to managing health and preventing disease. The Company
sponsors clinical trials aimed to demonstrate its product health
benefits and to obtain regulatory approval for label health claims.
Neptune is continuously expanding its intellectual property
portfolio as well as clinical studies and regulatory approvals.
Neptune's products are marketed and distributed in over 20
countries worldwide.
About Acasti Pharma Inc.
Acasti Pharma (TSX-V:APO) is developing a product portfolio of
proprietary novel long-chain omega-3 phospholipids. Phospholipids
are the major component of cell membranes and are essential for all
vital cell processes. They are one of the principal constituents of
High Density Lipoprotein (good cholesterol) and, as such, play an
important role in modulating cholesterol efflux. Acasti Pharma's
proprietary novel phospholipids carry and functionalize the
polyunsaturated omega-3 fatty acids EPA and DHA, which have been
shown to have substantial health benefits and which are stabilized
by astaxanthin, a potent antioxidant. Acasti Pharma is focusing
initially on treatments for chronic cardiovascular and
cardiometabolic conditions within the over-the-counter, medical
food and prescription drug markets.
About NeuroBioPharm Inc.
NeuroBioPharm is pursuing pharmaceutical neurological
applications, and a clinical study for a medical food product with
a multinational partner is already initiated. The development of a
prescription drug candidate is currently in progress. Advanced
clinical development and commercialization is planned to be carried
out with multinational partners.
"Neither Nasdaq nor the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release."
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and Canadian securities laws. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other unknown factors that could cause the
actual results of the Company to be materially different from
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are
urged to consider statements labeled with the terms "believes,"
"belief," "expects," "intends," "anticipates," "will," or
"plans" to be uncertain and forward-looking. The forward-looking
statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in the
Company's reports filed with the Securities and Exchange Commission
and the Canadian securities commissions.
CONTACT: Neptune Contact:
Neptune Technologies & Bioressources Inc.
Andre Godin, CFO
+1.450.687.2262
a.godin@neptunebiotech.com
www.neptunebiotech.com
CEOcast Contact:
Dan Schustack
+1 212-732-4300
dschustack@ceocast.com
www.ceocast.com
Howard Group Contact:
Dave Burwell
(888) 221-0915
dave@howardgroupinc.com
www.howardgroupinc.com
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