Kentucky site likely for Martek expansion
By Julie Bell,
Originally published February 5, 2003
"Martek Biosciences Corp. said yesterday that it plans to spend more than $30 million expanding manufacturing capacity to keep up with demand for its infant formula supplement, which gained U.S. approval last year.
Chief Financial Officer Peter L. Buzy said the latest expansion, to begin this year and be up and running next year or in 2005, most likely will be located in Winchester, Ky., home of its current plant.... Martek already has spent more than $25 million over the last 18 months doubling the capacity of its Winchester plant and building a separate packaging and administrative building. That work is expected to be completed in the next couple of months, giving Martek and its contract manufacturers the capacity to make enough supplement to bring the company $120 million to $160 million in annual revenue.
The company reported $46.1 million in revenue for the fiscal year that ended Oct. 31. [ $160M, That's a lot of baby formula.. - JC]