WILMINGTON, N.C., Nov. 25, 2015 /PRNewswire/ -- AAIPharma Services Corp./Cambridge Major Laboratories, Inc. (AAIPharma/CML) announces the planned investment of at least $15.8 Million to expand its laboratories and global headquarters in Wilmington, NC. The expansion will provide additional office space and development services capacity to meet the growing demands of the pharmaceutical and biotechnology markets.
The Wilmington site expansion will provide up to 40,000 square feet of expanded development services capacity and include a new administration building that will become the global headquarters for the company. AAIPharma/CML recently received approval for up to $500,000 in incentives from local city and county governments over the next five years.
"AAIPharma/CML's success and continued growth in Wilmington highlights the fact that life science businesses are flourishing in every corner of North Carolina," Governor Pat McCrory said. "Our state plays an increasingly key role in efforts to pioneer new treatments for people around the world, and this corporate expansion keeps that momentum going."
Scott Satterfield, Chief Executive Officer at Wilmington Business Development, said the announcement is the culmination of months of work bringing the necessary leaders to the table and embracing the opportunities that come with a major corporate expansion. "In a project like this, there are a lot of moving parts," Satterfield said. "WBD is proud to support AAIPharma/CML's long-term growth plans, along with other exciting projects we have on the horizon."
Approximately 5,000 square feet of lab and lab support area will be added by the end of the first quarter of 2016. It is anticipated that the new 40,000 square foot administration building will be completed by the end of 2016, followed by additional laboratory space in 2017. GHK Cape Fear Development, a fully-integrated real estate development firm located in Wilmington NC, has been engaged to develop the new headquarters building on AAIPharma/CML's Wilmington campus, located on Scientific Park Drive.
"We are honored to have been selected by AAIPharma/CML to develop a state of the art Headquarters facility which will accommodate the continued growth of their business," stated Mike Brown, Partner, GHK Cape Fear Development.
This expansion will include the addition of at least 50 jobs over the next five years, providing critical growth opportunities to the local area. "This expansion fits with our strategy for sustainable growth at all of our sites and is the first of several expansions to come in the near future." said Stephan Kutzer, CEO, President and Chairman of AAIPharma / Cambridge Major Laboratories. "We appreciate the opportunity to work with local city, state and county governments to bring more jobs to the Wilmington area."
About AAIPharma Services Corp. and Cambridge Major Laboratories, Inc.
AAIPharma Services Corp. and Cambridge Major Laboratories, Inc. have joined to form a world-class supplier of comprehensive pharmaceutical development and manufacturing services. With seven sites across the globe, our combined capabilities include API development and manufacturing, solid state chemistry, formulation development, analytical development and testing services, clinical and commercial finished dosage form manufacturing (solid dose and parenteral), packaging, and stability services.
SOURCE AAIPharma Services Corp./Cambridge Major Laboratories, Inc.