LURE, France--(BUSINESS WIRE)--Regulatory News:
Vetoquinol, a leading global animal health player, today announces a plan to reorganize its production facilities in Europe. This decision is in line with the Group’s strategy of streamlining operations in order to improve its response to customer needs, whether vets, breeders or pet owners.
Vetoquinol will transfer production of the Ascor range, which is currently manufactured at the Vetoquinol Italia plant in Emilia-Romagna, to other Group pharmaceutical facilities in Europe. The plant will be shut down by the end of 2021. The Ascor range comprises veterinary drugs and non-medicinal products primarily designed for pig and poultry farmers. The range is marketed in Italy and a number of other countries; the Group will continue to develop sales of these products.
In the broader context of tightening regulations, Vetoquinol has made this decision in order to streamline manufacturing processes, improve quality, generate synergies and increase the competitiveness of its products.
Around forty jobs will be affected by the reorganization and all employees will benefit from individual guidance and assistance in finding new employment. Vetoquinol plans to complete the shutdown process by the end of 2021.
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Vetoquinol is a leading global animal health company that supplies drugs and non-medicinal products for the livestock (cattle and pigs) and pet (dogs and cats) markets.
As an independent pure player, Vetoquinol designs, develops and sells veterinary drugs and non-medicinal products in Europe, the Americas and the Asia Pacific region.
Since its foundation in 1933, Vetoquinol has pursued a strategy combining innovation with geographical diversification. The Group's hybrid growth is driven by the reinforcement of its product portfolio coupled with acquisitions in high potential growth markets. At December 31, 2018 Vetoquinol employs 2,132 people.
Vetoquinol has been listed on Euronext Paris since 2006 (symbol: VETO).
For further information, go to: www.vetoquinol.com.