Evonik To Invest $27 M To Expand API and Intermediates Capacity
Evonik, a specialty and fine chemicals producer, plans to invest EUR 25 million ($27 million) to expand its facilities in Dossenheim and Hanau, Germany to support contract manufacturing of active pharmaceutical ingredients (APIs) and advanced intermediates.
The first stage of the expansion project is scheduled to be completed by the middle of 2021, with the entire project expected to be finalized prior to 2024.
The company says that the expansion will support complex API projects, such as those associated with oncological, antiviral, and other specialized drug products and that typically require a range of advanced technologies, including continuous processing, pegylation, catalysis and cryogenic chemistry.
The company has sites to support is CMO business in the US, Germany, France, Slovakia and China.