With news from Cambdirge Major Laboratories, Twin Disc, Emteq and DRS.
Germantown pharma firm to break ground on expansion
Cambridge Major Laboratories Inc., on June 5, will break ground on a new 120,000-square-foot plant next to its current facility at W130 N10497 Washington Drive in Germantown. The expansion will enable the company to engage in large-scale active pharmaceutical ingredient (API) manufacturing. Cambridge Major Laboratories is a global service-based chemistry outsourcing partner to the pharmaceutical and biotechnology industries, producing pharmaceutical intermediates, APIs and other fine organic chemicals.
The new plant is being designed with multiple manufacturing suites capable of producing multi-ton quantities of API, and is in response to the company’s large and growing pipeline of late developmental and commercial APIs. Completion is scheduled for August 2009. The expansion will enable the company to create 50 to 75 new jobs. Currently, about 100 people are employed at the Germantown headquarters, which is functioning at capacity. The facility will house several vessels for hydrogenation and cryogenic reactions, giving the site maximum flexibility and utility. The facility has been designed to accommodate additional manufacturing suites up to 4,000 gallon scale, and these will be built out as the needs arise.
"It is vitally important for us to extend our service offerings as we have numerous projects in Phase III clinical trials, and our desire is to retain the technology and customers for the initial several years of commercial manufacturing. Since there will be no tech transfers or re-validations of processes and suppliers, delivery of API should be guaranteed along with significant time and cost savings. This will also free additional capacity in our existing developmental plants, in particular where cryogenic reactions and hydrogenations are part of the process," said Michael Major. As part of Cambridge Major’s growth strategy announced in 2007, it is investing internally and through acquisition to continue to drive the 30 percent annual growth rate the company has experienced since its inception in 1999.
Twin Disc names new president, COO
Twin Disc Inc. recently promoted John Batten, 42, to the position of president and chief operating officer, effective July 1. Batten will report to his father, Michael Batten, the company’s chairman and chief executive officer. Since 2004, John Batten has held the position of executive vice president responsible for European operations and global marine strategy and product development.
A graduate of Yale University and the University of Colorado, as well as the Harvard Business School Advance Management Program, John Batten previously served as vice president, general manager of marine and propulsion, commercial manager of marine propulsion and applications engineer since joining the company in 1996. John Batten was elected a director of the company in 2002.
In his new position, John Batten will be responsible for all manufacturing operations, as well as, marketing, engineering, human resources, and global distribution. The appointment fills the void created in July 2006, when Michael Joyce, then president and COO, retired. Christopher Eperjesy, vice president of finance and chief financial officer, will continue to report to Michael Batten. Twin Disc designs, manufactures and sells marine and heavy-duty off-highway power transmission equipment.
Emteq shareholders invest in Montana partnership
The shareholders of New Berlin-based Emteq Inc. have acquired individual shares of Cable Technologies of Montana Inc. (CTI), a Great Falls, Mont.-based designer and manufacturer of wire and cable-related assemblies. The partnership is intended to strengthen Emteq’s electronic assembly and integration work. Emteq specializes in avionics systems and integration, interior lighting and cabin comfort as well as exterior lighting products for retrofit and forward fit applications in the military, corporate, helicopter and air transport market.
Both companies will retain their names and will continue conducting business as usual. "This partnership provides us with an opportunity to offer a greater realm of products and services that compliments our current product offering, and we will be working together, with CTI, toward common goals in customer and operational excellence in the worldwide aviation industry," said Jerry Jendusa, Emteq’s CEO.
"Emteq proves to be the ideal partner in the avionics business," said Ed Buttrey, president of CTI. "They offer operations, people and processes which provide a level of synergy with our current operations and manufacturing and assembly capabilities to further enhance the growth of CTI in the aerospace and military industry." Buttrey will retain all responsibilities as the president of CTI, and Jendusa will continue his role of CEO of Emteq. The two businesses will collectively be involved in customer relations, strategic growth plans and process improvements in growing the businesses and their employees.
DRS to be acquired by Italian company
DRS Technologies Inc. has signed a definitive agreement to be acquired by Finmeccanica, S.p.A. of Rome, Italy, for $5.2 billion. DRS is the parent company of DRS Power & Control Technologies Inc. in Milwaukee at 4265 N. 30th St. The Milwaukee plant was formerly owned by Cutler-Hammer Manufacturing Co., which was acquired by Eaton Corp. and then DRS in 2002. Finmeccanica will acquire 100 percent of DRS stock for $81 per share in cash.
The boards of directors of Finmeccanica and DRS each have approved the terms of the agreement. DRS will operate as a wholly-owned subsidiary, maintaining its current management and headquarters in Parsippany, N.J.
"DRS’ dramatic growth over the past five years and the premium provided through this acquisition will provide attractive returns for our stockholders," said Mark Newman, chairman of the board, president and chief executive officer of DRS. "This investment in DRS – with an increased emphasis on research and development – will mean the combined company will be able to compete for and win additional contracts around the world, accelerating growth and expanding opportunities at our facilities in the U.S."
