Inotiv, announced plans to close two isolator facilities in Indianapolis, Indiana, and consolidate them with existing facilities in the U.S. The Company’s subsidiaries in France and the U.K. have also proposed a consolidation plan of two facilities in Gannat, France, and Blackthorn, Bicester U.K., into existing facilities. The Company also provided an update on its previously announced site optimization plans in Virginia, Michigan, and Pennsylvania. Robert Leasure, Jr., Inotiv’s President and CEO commented, “We are undertaking these initiatives as part of the continuing integration of our RMS business and site optimization strategy. We expect the U.S. consolidation to be completed by the end of fiscal year 2023 with associated costs that are expected to be immaterial. Our subsidiaries in France and the U.K. will be consulting with employee representatives at our facilities at Gannat, France, and Blackthorn, U.K. on a proposed closure of those sites for consolidation into our facilities in Horst, The Netherlands, and Hillcrest, U.K., respectively. We believe that these proposed site consolidations, if approved and implemented, along with the consolidations in the U.S., would optimize investments that we have been making at our facilities in the U.S., Horst, The Netherlands, and Hillcrest, U.K., enhance margins and reduce anticipated capital expenditure needs at the sites we propose closing. The proposed consolidation plans for France and the U.K., if they should proceed, are expected to be completed by the third quarter of fiscal 2023 and the Q4 of FY24, respectively. The facilities in Gannat, France, and Blackthorn, Bicester U.K. are owned by the Company, and if the proposed consolidation plans are approved and implemented, we would pursue selling the facilities.”
Published first on TheFly
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