PharmEng Announces Purchase Of Pfizer Manufacturing Facility In Arnprior, Ont.

PharmEng International Inc. , announced recently that its subsidiary, Keata Pharma Inc., has entered into an agreement with Pfizer Canada for Keata to purchase Pfizer's manufacturing facility in Arnprior, Ontario including inventory. Concurrently, Keata will enter into supply agreements with Pfizer for the exclusive manufacture of certain Pfizer products for Canada at the Arnprior facility for a period of three years. Keata will also manufacture product from the Arnprior location for two other major pharmaceutical clients with multi year supply contracts, becoming a world wide supplier to more than 30 countries.

Under the terms of the agreement, Keata will retain the facility's approximately 175 employees operating the 85,000 sq. ft. facility.

"We believe that this transaction provides PharmEng with benefits that enhance our manufacturing organization and strengthens our strategic relationship with Pfizer," explains Alan Kwong, CEO of PharmEng, "We are pleased that the FDA licensed Arnprior facility and its highly skilled employees will continue to supply product to Pfizer. Along with the recently opened new facility in Nova Scotia, this acquisition allows Keata flexibility with our manufacturing capabilities and improves cost effectiveness throughout our manufacturing operations," concludes Mr. Kwong.

On closing of the definitive agreement with Pfizer, additional information will be provided in future press releases.

About PharmEng International Inc.
PharmEng International Inc., headquartered in Toronto, Canada, is a full-service consulting and contract manufacturing company that serves the pharmaceutical, biotechnology and medical device industries in North America and internationally. Consulting services include project management, engineering, GMP, validation, calibration, regulatory compliance and certified training. Contract manufacturing includes pharmaceutical support, formulation development, laboratory testing, and finished solid dosage and liquid products. Building on a foundation of over seven years of successful consulting, PharmEng in combination with its wholly owned manufacturing subsidiary, Keata, has evolved into a full service pharmaceutical company. PharmEng's shares trade on the TSX Venture Exchange under the symbol PII. For more information about PharmEng, please visit the Company's website at www.pharmeng.com.

SOURCE: PharmEng International Inc