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Evotec AG Closes Its Chemistry Operations in Thane; Cuts Jobs; Confirms FY 2013 Guidance

Monday, 8 Jul 2013 07:26am EDT 

Evotec AG announced that it will close its Chemistry Operations in Thane, India. All chemistry efforts will now be performed at its Abingdon (the United Kingdom) facility. All project work in Thane will be finished at the end of September 2013 and Evotec (India) Private Ltd will be wound down from then. As a consequence 120 people will have to leave the Company and Evotec will take a one-time impairment charge of up to EUR 4 million in the third quarter of the fiscal year 2013. At the same time Evotec confirms its revenue, profitability and cash guidance for the fiscal year 2013. 

Company Quote

-0.107 -2.86%
15 Aug 2014