John R. Wilson, PhD.
Boehringer Ingelheim Chemicals, Inc.
Boehringer Ingelhelm Expands Manufacturing Plant in Petersburg
-- Governor Gilmore announces $52 million investment --
Petersburg - Governor Jim Gilmore today announced that Boehringer Ingelheim Corporation (BIC) will expand its manufacturing capacity at its chemical production subsidiary, Boehringer Ingelheim Chemicals, Inc., located in Petersburg. Specifically, the $52 million investment represents the first phase of a three-phase site expansion strategy, which will more than double the site's manufacturing capacity when fully realized. The company will create 104 new jobs in connection with the first phase of the expansion.
"I was pleased to personally meet with executives from Boehringer Ingelheim during my 1998 trade and investment mission to Germany," said Governor Gilmore. "This multinational company is committed to Virginia and will create valuable employment opportunities for the people of Petersburg and its surrounding localities."
The Petersburg site is a strategic facility for BIC's production of Active Pharmaceutical Ingredients (API) for its growing portfolio of prescription products. In addition to serving its parent company, Boehringer Ingelheim Chemicals also manufactures APIs for other pharmaceutical companies.
"This significant investment re-affirms Boehringer Ingelheim's commitment to expanding its API manufacturing capacity and capabilities in North America, and specifically in Petersburg, Virginia," said Dr. Anthony J. Corso, President and COO of Boehringer Ingelheim Chemicals.
"We remain aggressive in marketing the Commonwealth to pharmaceutical manufacturers and suppliers," said Secretary of Commerce and Trade Barry E. DuVal. "Boehringer Ingelheim Chemicals has been a strong corporate citizen in Virginia for 22 years, and we look forward to closely witnessing their future success."
The Virginia Economic Development Partnership, the City of Petersburg and the Appomattox Basin Industrial Development Corporation assisted Boehringer Ingelheim Chemicals with its expansion decision. Governor Gilmore approved a $400,000 grant from the Governor's Opportunity Fund to assist Petersburg with site preparation. The company also qualified to receive a grant from the Virginia Investment Partnership Program in the amount of $500,000. The Virginia Department of Business Assistance will provide workforce training services to the company.
"Petersburg is again on the verge of economic renaissance," said Petersburg Mayor Rosalyn R. Dance. "Over the years, the City Council and City Administration have formed a strong working relationship with Boehringer Ingelheim Chemicals. This strong relationship continues to pay off in new investment and job opportunities for Petersburg."
Boehringer Ingelheim Chemicals, Inc. is a wholly owned subsidiary of Boehringer Ingelheim Corporation located in Ridgefield, Connecticut, engaged in the manufacture of bulk active ingredients to the pharmaceutical industry. Its facilities are located in Petersburg, Virginia. Boehringer Ingelheim, with headquarters in Ingelheim (Germany) is one of the 20 leading pharmaceutical corporations in the world. It reported revenues exceeding DEM 8.7 billion (US$4.97 billion) in 1998. The corporation has more than 140 affiliated companies and it conducts business on every continent.