"Morpeth has a long tradition of excellence in manufacturing and supply chain and is set to play a key role in NPIL
's global custom manufacturing organisation network, manufacturing and supplying medicines to markets around the world."
also has a weak financial risk profile, marked by a high gearing and weak debt protection metrics, and is exposed to risks related to intense industry competition.
's Simon Oakland and Mark Clarke will become directors alongside Mr Menzies and other senior managers, who will be shareholders in the new business.
will own the hospitals through a limited partnership structure -- 80% by NPIL
and 20% by Capio.
Pharma, of Leeds Road, Bradley Mills, has been handed the money by regional development agency Yorkshire Forward.
The cost-cutting move comes just 17 months after India-based NPIL
Pharma acquired the former Searle manufacturing plant from its then owner, Pfizer.
Mr Robinson said: "Having spent all of our own reserves, the chamber made an appeal to finance group Npil
on Whalton Road who stepped in at the last minute with a donation which has allowed the chamber to purchase approximately 20 extra baskets."
In June last year the North-East corporate finance team at PricewaterhouseCoopers, led by Paul Mankin, advised Pfizer on the sale of its manufacturing facility at Morpeth to Nicholas Piramal India Limited (NPIL
INTERNATIONAL DEAL: From left, Amit Bhalla of PwC, Aidan Walker, site manager NPIL
Morpeth facility, and Paul Mankin of PwC.
Nicholas Piramal India Limited (NPIL
) said it would take over the Pfizer plant in Morpeth in a deal which would keep all the staff on and the existing operations open.
This ethnic combination impresses, also, inside the main buildings housing one of the main global operations of NPIL
Pharma ( turning out nine million pills and tablets a day for more than 100 countries of the world from Morpeth in Northumberland.
Though 500 major Indian firms are now active in the UK, NPIL
stands out as the first major pharma group to outsource assets in the UK.