Foster Wheeler acquires major US biopharmaceutical process design company
Foster Wheeler has significantly strengthened its position in the biotech and pharmaceutical markets by completing the acquisition of 100% of the stock of privately held Biokinetics from MPA Holdings.
Foster Wheeler has significantly strengthened its position in the biotech and pharmaceutical markets by completing the acquisition of 100% of the stock of privately held Biokinetics from MPA Holdings.
Terms of the transaction were not disclosed.
The acquisition enables Foster Wheeler to re-establish its position in the North American pharmaceutical market and strengthens its position relative to key US pharmaceutical companies seeking to invest in the US and globally. The deal will also provide enhanced capabilities to existing Biokinetics clients.
Biokinetics is an industry leader in process systems design for the biopharmaceutical industry, with expertise in bioprocess unit operations including fermentation, mammalian cell culture, bioreactors, bacterial and yeast fermentation recovery, live and attenuated virus processing for vaccines and plasma-derived products; associated processing and support systems; pharmaceutical fill-finish and materials handling; process simulation and optimi ation; modular process design; high-purity water systems; validation services.
The company is based in Philadelphia, Pennsylvania, with additional operations in California and North Carolina in the US and Carlow in Ireland. It has approximately 130 employees.
"The pharmaceuticals, biotechnology and healthcare market is a core market segment for Foster Wheeler and is one in which we are committed to growing our market share," said Umberto della Sala, president and chief operating officer of Foster Wheeler. "This acquisition is part of Foster Wheeler's overall strategy to complement organic growth in our Global Engineering & Construction business with highly targeted acquisitions.
"This particular transaction enables us to expand our global presence in this sector and further enhance our existing biopharmaceutical skills base. We will be able to deliver comprehensive and responsive capabilities to existing, as well as new, clients, anywhere in the world," he added.
