Subsidiaries
Chromavis Fareva
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FAREVA, which expects to generate sales of €1.375 billion in 2015, is embarking on an investment programme aimed mainly at its French pharmaceutical production sites over the next few months. “We are facing pressing demand for some forms and types of product that we produce at the plants concerned,” explains Bernard Fraisse, chairman of the family-owned business. He indicates, in passing, that he will “prioritize organic growth” in the coming months; at the same time, FAREVA will not “neglect opportunities for growth if they present themselves, but we will be more selective.” Although the group is keen to slow down its pace of acquisitions – its main development driver in recent years – it is certainly intending to increase the capacity of certain plants in France that have reached saturation point.
As a result, €25 million will soon be invested into Excelvision in Annonay in south-east France – a former Ciba Vision plant with 400 employees – where FAREVA produces eye washes and ophthalmic products. The project will involve physically extending the plant and includes plans to install two new BFS (Blow FM Seal) lines.
A budget of €19 million has also been allocated to the Valdepharm plant in Val-de-Reuil in northwest France, which was taken over from Pfizer in 2006; it mainly manufactures freeze-dried products and is involved in distribution activities (bottles). The programme currently being implemented aims primarily to “strengthen our freeze-drying and sterile distribution” capacities, explains Bernard Fraisse.
Both initiatives will be complemented by the €25 million programme at the former Merck Sharp & Dohme (MSD) plant in St-Germain-Laprade (Haute-Loire). “We are planning to give it large-scale high-patent capacity to support our API production at the Feucht (Excella) plant in Germany, which is close to saturation,” explains the chairman.
Pharmaceuticals and mainland France are not Fareva’s only priorities: the company is also relying on the cosmetics sector and the Latin American markets. Having added Brazil to its list of conquests, the group is now targeting Mexico, where it soon plans to invest between €8 and €10 million in a new cosmetics plant located 200 km from Mexico City, specifically for a French customer. The Ardèche-based manufacturer also plans to develop new capacity. In the coming months, the OTC products plant in Richmond (Virginia) – bought from Pfizer in 2011 – will benefit from a $30 million investment programme that will fund the deployment of cosmetics production capacity, essentially new aerosol and spray lines, “which will be housed in a dedicated building covering 30,000 sqm,” explains Bernard Fraisse.
The group’s chairman and founder, who rejects the idea of turning to the stock market or investment funds in order to maintain the company’s independence, should be well equipped to fund its various projects. FAREVA recently restructured its debt following a Euro PP-type private investment. And at the end of June, it had over €405 million in capital: more than enough to give the business room for manoeuvre ! Jean-Christophe Savattier ActuLabo - October 7h 2015
A new site entered the FAREVA GROUP, on September 1st, 2015, with the takeover of the Merck Sharp & Dohme plant in St-Germain-Laprade.
With 130 people, this site, specialized in the Active Pharmaceutical Ingredient (API) enables FAREVA to double its production capacity distributed, at present, between its French sites, in Val de Reuil and Romainville, and Feucht in Germany.
Investments of 25 million € are planned for the future developments. They concern the setting-up of highly active molecules intended, in particular, for anticancer medicine. The development of a very sought out technology which makes chemical reactions at very low temperatures possible (-60° C) is also intended.
Its putting into service is expected in 2017.