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Ash Stevens invests $20M into Riverview expansion, plans 60 hires

Thursday, July 29, 2010

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Ash Stevens is expanding its facilities in Riverview, investing $20 million into expanding its operations there and adding 60 jobs.

"We are continuing to grow," says Stephen Munk, CEO and president of Ash Stevens. "We are hiring."

The 50-year-old company has 70 employees and 2-3 interns. It has hired seven people over the last year and expects to add a handful more over the next year. Most of those jobs will be for knowledge-based workers with chemistry and chemical-engineering backgrounds.

The pharmaceutical manufacturing company specializes in making active ingredients such as cancer drugs and other therapeutic agents in development. The project is expected to expand the company's ability to make these drug ingredients by 50-80 percent.

The expansion plan should be executed over the next five years. Its first phase includes building a 10,000-square-foot GMP storage and materials handling facility. Subsequent phases will include constructing a new 2,250-gallon reactor bay with 500-gallon, 750-gallon, and 1,000-gallon vessels for the large-scale manufacturing. All of this work will consolidate Ash Stevens operations into Riverview over the next seven years.

Source: Stephen Munk, CEO and president of Ash Stevens
Writer: Jon Zemke

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