Orion to investigate the possible outsourcing of its pharmaceutical production in Kuopio, Finland [Yahoo! Finance]
ORION CORP NEW UNSP/ADR (ORINY)
NASDAQ:AMEX Investor Relations:
orion.fi/en/orion-group/investors/investor-relations
Company Research
Source: Yahoo! Finance
Orion Corporation is evaluating the possible outsourcing of its pharmaceutical production in Kuopio, part of its Global Operations function, to an entity outside Finland. The basis for the possible outsourcing would be the lack of competitiveness of the Kuopio plant and the high investment needs of the plant. The evaluation is due to the low competitiveness of the plant, low capacity utilisation, increasing quality requirements in the pharmaceutical industry, and high investment needs. Volumes of the plant are low and due to the lack of competitiveness, outlook for growth is very limited. Therefore, the additional investment needed would not be justified. The products currently manufactured in Kuopio would continue to be part of Orion's product portfolio also in the future. The estimated time scope is that the plant would continue to operate until at least the summer of 2026. The company has today issued a negotiation proposal in accordance with the Co-operation Act within unde
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