Manufacturing firm to purchase Pfizer’s Henrico plant
- August 30, 2011
A Luxembourg manufacturer plans to purchase and expand Pfizer’s consumer products manufacturing plant in Henrico County, creating 90 new jobs.
Fareva and Pfizer have reached a manufacturing and supply agreement that will allow the plant to continue to produce Pfizer consumer products.
The 500 employees at the plant will transfer to Fareva. Fareva has 5,500 employees worldwide. The Henrico plant will be its first operations in the U.S.
“We have been looking for the right opportunity to expand our manufacturing footprint into North America and establish our pharmaceutical and cosmetics businesses in the United States,” Fareva CEO Bernard Fraisse said in a statement. “The Henrico County site has a talented and motivated work force and state-of-the-art manufacturing, packaging and warehousing facilities that are a perfect fit for growing our commercial portfolio in this region.”
Gov. Bob McDonnell approved a $650,000 grant from the Governor’s Opportunity Fund to help Henrico with the project and an $800,000 performance-assist grant from the Virginia Investment Partnership program, which is available to existing Virginia companies.