Capsugel $17 Million Expansion to Add 45 Jobs in Greenwood, SC

March 7, 2007 - Following close on the heels of a 2006 expansion to its Licaps manufacturing center in Greenwood, South Carolina, and a state-of-the-art Formulation Center at SC Bio in the Greenwood Genetics Center, Capsugel has announced a $17 million dollar investment in its North Emerald campus that will add 45 new jobs. According to Capsugel's Deborah Morrison, Liquids Director, Americas, "With the growth of Licaps this expansion will add the necessary capacity to manufacture new product options for our customers and give the Licaps operation continued room to grow in the future."

The exclusively patented Licaps process fills and seals liquid in a traditional hard capsule shell and is popular in the growing sports nutrition and Neutraceutical markets. Since its beginning in Greenwood four years ago, sales of the product have increased over 60% per year.

"Celebrating its 40th anniversary in Greenwood is not the only milestone that Capsugel marks in 2007. It is another year of growth for the Pfizer subsidiary and a demonstration of the company's continued commitment to Greenwood," said Greenwood County Councilman Gonza Bryant.

"Capsugel is one of the jewels in Greenwood's manufacturing crown," added County Council Dee Compton. The company is not only a subsidiary of a Fortune 100 giant, but a name that immediately grabs the attention of prospects we try to recruit to the area. News like this announcement supports the county's strategic plan to not only recruit new industry, but aid our long-forgotten, but loyal existing industries."

Greenwood Partnership Alliance CEO Jeff Fowler added, "We are, of course, pleased with Capsugel's continued faith in the future of Greenwood County, but also very thankful for the continuing support by the Partnership's Chairman of the Board and Capsugel Director of Manufacturing, Phil Vickery.

For additional information, please contact Jeff Fowler at (864) 388-1250.

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