Business
GPB26m investment
GPB26m investment.
About this update from Pz Cussons Plc
[{"type":"text","content":"\n PZ CUSSONS PLC\n13 March 2007\n\n\nPRESS RELEASE 13 March 2007\n\n PZ CUSSONS PLC\n\n £26M INVESTMENT IN MANUFACTURING AND R&D CENTRE IN MANCHESTER\n\nPZ Cussons Plc (LSE: PZC.L) is pleased to announce that in response to the rapid\ngrowth of its UK business, it is investing £26 million in a new, purpose-built\nInnovation Centre in Agecroft, Greater Manchester. The site has recently been\npurchased from the North West Development Agency, and construction is under way,\nwith planned completion in 2009.\n\nThe Innovation Centre will comprise:\n\n• a new high speed Liquids Factory, significantly increasing capacity for the\nmanufacture of the Group's UK liquid product ranges. The new factory is\nexpected to produce around 150 million units per year, an increase of some 50%\nabove current capacity levels;\n\n• a new Research & Development Centre, creating an international centre of\nexcellence, with a 25-strong team of chemists working on site in a state of the\nart facility to create new formulations;\n\n• a new Fragrance Development Centre, which will create and produce\nsophisticated perfumes for the UK business and the wider Group.\n\nPZ Cussons is number one in the personal wash category in the UK, with the\nImperial Leather, Carex and Original Source brands, and number two in the\ndesigner hair care category with the Charles Worthington brand. This investment \nrecognises the continuing importance of the UK market, and re-affirms the\nGroup's commitment to developing leading brands and product ranges within the\nmarket for which they are intended, to better meet consumer requirements and \ntastes.\n\nAlternative locations for the centre were considered, including Eastern Europe\nand the Far East. However locating the facility in Manchester allows PZ Cussons\nto continue to provide reliability of supply chain and speed to market for its \nUK retail customers. Importantly, it also allows the Group to retain its highly\nskilled workforce, as well as accessing the academic research of the local\nManchester universities. Furthermore, the facility will enable close involvement\nwith the UK sales and marketing team. As well as serving the UK, the R&D\ncapability of the Innovation Centre will also be able to support the product\ndevelopment work of the wider PZ Cussons group.\n\nThere will be approximately 150 p...