Fareva to purchase Pfizer plant in Henrico
Company plans to invest $42M, bring 90 new jobs to county
Fareva, a privately-held international contract manufacturing firm that operates in four business segments—homecare and industrial, cosmetics, pharmaceuticals, and food, will acquire and invest $42 million in Pfizer’s consumer products manufacturing site on Darbytown Road in Eastern Henrico County, state and local officials announced this morning. Fareva will continue to operate the facility, which manufactures and packages brand-name products such as Advil, Chapstick and Robitussin.
Pfizer and Fareva also have reached a manufacturing and supply agreement that will enable the plant to continue production of Pfizer consumer products for the global marketplace. All of the nearly 500 Pfizer colleagues that are employed at the site will transfer to Fareva, and an additional 90 positions will be added.
“Fareva’s acquisition of the Pfizer plant and retention of approximately 500 jobs is tremendous for Henrico County and the Commonwealth," Gov. Bob McDonnell said. "This project is also significant because well-known Pfizer products will continue to be manufactured at the facility as Fareva expands into the North American market with its first U.S. site.”
“We are thrilled that Pfizer and Fareva were able to strike this agreement and both retain and expand the Henrico County manufacturing plant,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “I look forward to the inevitable growth of this partnership that builds on Pfizer’s brand success while opening Fareva to the U.S market.”
Headquartered in Luxembourg, Fareva employs 5,500 colleagues and reported $1.2 billion in revenues in 2010. The company operates 28 manufacturing facilities in Europe and emerging markets.
Speaking about the pending acquisition, Fareva’s Chief Executive Officer Bernard Fraisse stated, “We have been looking for the right opportunity to expand our manufacturing footprint into North America and establish our pharmaceutical and cosmetics businesses in the United States. The Henrico County site has a talented and motivated workforce and state-of-the-art manufacturing, packaging and warehousing facilities that are a perfect fit for growing our commercial portfolio in this region.”
The Virginia Economic Development Partnership worked with Henrico County to secure the project for Virginia. McDonnell approved a $650,000 grant from the Governor’s Opportunity Fund to assist Henrico County with the project. McDonnell also approved an $800,000 performance-based grant from the Virginia Investment Partnership (VIP) program, an incentive available to existing Virginia companies. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company’s recruitment, training and retraining activities.
“Henrico County is very pleased to welcome another international company to our community,” said Frank Thornton, chairman of Henrico County Board of Supervisors. “We are grateful to Fareva for acquiring this plant and saving important jobs, and we look forward to partnering with the company as they add additional jobs and investment. Their plan to diversify the plant’s product mix by adding cosmetics is a real plus.”
Canoeing and kayaking enthusiasts soon will have a new access point to the Chickahominy River. VDOT, the James River Association and Henrico County Parks and Recreation are teaming up to establish a new site in Eastern Henrico.
The James River Association negotiated the deal with VDOT to procure official access to the area located just east of I-295 on North Airport Road in Sandston. The site includes a park-and-ride commuter lot bordering the Chickahominy River and has been an unofficial launch site used by paddlers for years. > Read more.
Citizen Staff Reports 07/04/2014
Citizen Staff Reports 07/03/2014
Elgharouch was selected for his clear and demonstrated patience and for his infectious positive attitude, according to the society. > Read more.
Grab the kids and check out these fun family-friendly events taking place this weekend! Speed over to the Henrico Theatre for the film “Turbo” or watch “Dumbo” under the stars at Clarke-Palmore House Museum. Little ones can meet Thomas the Tank Engine at CMOR-Central or play at the Eastern Henrico Recreation Center. For all our top picks this weekend, click here! > Read more.
Don’t party too hard on the Fourth because a whole weekend of fun events await! Enjoy a classy date night without the kids at James River Cellars Winery’s second annual Smoke and Vine Festival. Another date night option is at the Richmond Funny Bone, where comedian April Macie will perform all weekend. The kids have their own options this weekend as well. Choose from storytime at Tuckahoe and Twin Hickory libraries or family-oriented karaoke at Aunt Sarah’s Pancake House – I hear they have hits from Disney’s “Frozen.” For all our top picks this weekend, click here! > Read more.
- More Henrico News
ClassifiedsSAVE on Cable TV-Internet-Digital Phone. Packages start at $89.99/mo (for 12 months.) Options from ALL major service providers. Call Acceller today to learn more! CALL 1-888-686-5081.
CalendarThe Alzheimer’s Association will present the program “Know the 10 Signs” from 1 p.m. to 2 p.m. at Chickahominy YMCA, 5401 Whiteside Rd. Advance registration is required by calling 804-967-2580. Full text