Inovet invests €26M in Hauts-de-France
Inovet France: €26M investment in five years
“New developments and international demand will increase the need for production capacity.” Veterinary pharmaceutical company Biovet (part of the Belgian group Inovet), located in Arques in Hauts-de-France, will benefit from a new investment of 26 million euros. The funds, which will be released in four phases, should enable the plant to be modernised to triple its production capacity. Inovet’s aim is to be ranked among the world’s top 50 animal health companies (livestock and domestic) by 2024.
- Phase 1: Reconstruction of a new production unit and additional offices.
- Phase 2: 2019-2021: creation of an injectable preparations unit and construction of a second production line.
- Phase 3 – 2023: renovation of the water-soluble powders unit.
- Phase 4 – 2023: optimisation of the site’s logistics.
The company also plans to increase its workforce to implement this policy of increased production. Some 60 people are expected to be recruited by 2023, increasing the site’s workforce to 170 employees.
Biové, the Inovet group’s biggest production site
Inovet has three sites in Europe:
- Arques in Hauts-de-France (a site acquired in 2007), the group’s largest production site currently employing 110 people (170 by 2023)
- Belgium, for small production runs (51 employees)
- Hungary (two employees)
Although the group considered the possibility of relocating production, it finally made the choice to maintain its plant in Hauts-de-France. This is a strategic decision that allows the company:
- to retain the qualified workforce already employed at the site
- to benefit from the strategic position of the region at the heart of Europe – 80% of the group’s production sold in France and abroad comes from the Biové plant.
This is a project supported by Nord France Invest (in particular the financial engineering side) and its partners: Conseil Régional Hauts-de-France, CGET, CAPSO and SOFIE. Find out what services we offer to foreign companies!