Establishment of an eighth Colorcon film coating facility meets the expanding needs of the pharmaceutical and nutritional sectors in Southeast Asia
HARLEYSVILLE, Pa., June 6, 2023 /PRNewswire/ -- Colorcon, Inc. is proud to formally announce its investment in a new manufacturing plant in Johor State, Malaysia for its film coating products. Construction will begin in August 2023, with completion expected by July 2025. This best-in class facility will be the eighth in Colorcon's global network; and will produce high quality and innovative film coating products for pharmaceutical and nutraceutical manufacturers located in Southeast Asia region, including Australia and New Zealand.
Colorcon, Inc. is investing in a new manufacturing plant in Johor State, Malaysia for its film coating products with completion expected by July 2025
According to CPHI's 2022 Global Survey, the ASEAN pharmaceutical manufacturing industry will grow by 12.8% annually over 2021-2027 driven by increasing prevalence of chronic ailments, growing geriatric population, high investment in research and development, and increasing per capita healthcare expenditure.
Simon Tasker, CEO, Colorcon Inc. explains: "This investment strengthens our strategy to position Colorcon facilities close to our customers and support the projected growth in the region. The new plant in Malaysia will reduce delivery lead-times, improve our sustainability and strengthen our assurance of supply for our customers in the region; while assuring quality and equivalency of product manufactured at any of our network of manufacturing locations around the world."
Willem Hoogwater, Managing Director - NESEA explains: "We want to make it easy for customers to work with Colorcon. The new plant represents a significant commitment to customer satisfaction, convenience, and the resilience of the supply chain in Southeast Asia. The investment in regional production will further enhance Colorcon's ability to provide the high service level our customers expect, and we believe our customers deserve."
This investment in local manufacturing will improve Colorcon's flexibility in the scheduling of production, resulting in higher efficiency for customers and secure the supply chain to meet future industry needs. Colorcon has 11 manufacturing facilities, 25 technical service laboratories globally and more than 1400 employees exclusively dedicated to its customer base.
For more information, visit www.colorcon.com.