Grifols acquires former Novartis industrial complex

Pharmaceutical Company Restructures

Grifols has announced that it is to move forward with its 400 million euro (298.2 million pounds) investment to secure its future growth and increase produciton with the purchase of a 31,000 square metre industrial complex from Novartis.

Located in Parets del Valles, Barcelona, the company will look to build a new plasma fractionation plant that would double the firm's current capacity in Spain.

It hopes to finish remodelling and adaptation work and receive the appropriate international licences and permits in order to initiate production at the plant by 2013.

J I Twose, vice-president of production at Grifols, said: "This is where the central headquarters of group's logistics will be located.

"We hope to move them in the final quarter of 2008."

He added that the first floor of a 6,000 square metre building at the site will contain new facilities for engineering and general services work, while the second floor will be the location of a number of relocated corporate offices to enhance the overall efficiency of the firm.

Last month, Grifols announced that it had been selected by the technical assessment committee in Spain for incorporation in the Ibex 35 share listings.

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