PM Group has opened its Asia-Pacific headquarters in Singapore to spearhead its expansion and to capitalise on future opportunities in the region.
The establishment of new headquarters in the city follows an already successful entry into the region, with PM Group recently winning several contracts with global blue chip companies including Wyeth, Novartis and Glaxo SmithKline over the past 12 months. The contracts in the R&D, biopharmaceutical and food industry sectors have a combined capital value in excess of US$500 million and provide the company with a platform for further expansion in the region.
Speaking at the launch, CEO Mr. Pat McGrath said: “PM Group has been delivering world-class project and construction management services in many countries to date including the United States, Russia, Poland, Ireland and the UK. The decision by major global players in the pharmaceutical sector to continue working with PM Group as they expand into the Asia Pacific Region is an exciting development for the company and a tribute to our team of professional people across the world. The opening of our new headquarters in Singapore is a sign of the confidence we have in our own business and the confidence we have in future growth opportunities in the Asia Pacific region.”
Speaking on the growth opportunities in the Asia Pacific Region, Mr. McGrath said: “The Asian pharmaceutical market was valued at US$144 billion in 2007 and is expected to grow by over 10% in 2008. PM Group has considerable experience working with this sector in Europe and we are now building our operations in Asia. Singapore is at the heart of this region and is attracting major investment from the global pharmaceutical industry. According to the Singapore Economic Development Board, Singapore’s biomedical sciences manufacturing output surpassed S$24 billion in 2007, accounting for close to 6% of the country’s GDP.”
“The combination of PM Group’s world-class process capabilities and M+W Zander’s local knowledge and expertise in the design and construction of high-tech facilities throughout the Asian region is seen as a very attractive solution by our clients looking to deliver strategic projects in their new markets and were hugely influential in the winning of key strategic contracts in the past 12 months, particularly in China and Singapore.”
“The contracts we won in association with strategic integrated services partner, M+W Zander, include the development of a new US$280 million world-scale infant nutritional facility in China for Wyeth, the largest greenfield development undertaken by the pharmaceutical company to date in Asia. PM Group and M+W Zander will also manage the 12,000sqm expansion of an existing facility in Singapore, which will be completed by late 2009.”
The two companies are also designing a pair of research laboratories at the Biopolis biomedical sciences hub in Singapore and are also working on a number of other projects in the region.
For more information, please contact our Singapore office