Albany Molecular Research, Inc. to Combine Midwestern Operations
Albany, NY (October 31, 2001) - In a move to consolidate its Midwestern operations, Albany Molecular Research, Inc. (Nasdaq: AMRI) today announced plans to relocate its biocatalysis Division from Iowa City to the Chicago area, effective in 2002.
Under the plan, AMRI's Biocatalysis Division, currently located in the University of Iowa's Oakdale Research Park in Iowa City, Iowa, will move its operations to the company's recently acquired facilities in Mount Prospect, IL, about twenty miles from downtown Chicago. AMRI purchased the 88,000 square-foot facility from Great Lakes Chemical Corporation on September 21, 2001. The building contains scientific laboratories, a pilot plant, and state-of-the-art fermentation facilities. AMRI currently employs 49 individuals in Mount Prospect and 29 in Iowa City. The Mount Prospect facility has the potential to house 200 employees, including 125 to 150 chemists.
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