SLA Welcomes News that Quotient is to Develop New Manufacturing Facility Near Edinburgh
Released: Friday 11th December 2015
Quotient Limited Announces Plans for New Product Development and Manufacturing Facility Near Edinburgh, Scotland
JERSEY, Channel Islands, December 9, 2015 -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company, today announced that it has entered into a construction contract with MW High Tech Projects UK Limited for a new product development and manufacturing facility at the Midlothian
Biocampus (the “Biocampus Site”) near Edinburgh, Scotland. The Contract provides for the first phase of the project, encompassing product manufacturing, which is expected to be completed by August 2017. The estimated cost of the first phase is approximately £15 million, or $23 million at current exchange
rates, with funding expected to be provided primarily from the proceeds of a sale and leaseback transaction.