Stevanato Group Spa aims to double its sales in five years and consolidate its international leadership position in the manufacture of glass primary pharmaceutical packaging for injectable substances, a global market of which is growing at 4%. The growth plan is based on investments of 140 million euro (for the period 2013-2016) and it aims to increase its market share in those areas currently in expansion (North America, the Far East and South America), concentrating its core business on products with high added value. The firm currently has clients in 150 countries and employees in Italy, Mexico, Slovakia and China.
“In a market which on average expands by 4% worldwide, over the past four years the Stevanato Group has managed to maintain growth levels which consistently exceed 10% per year by following carefully designed strategies: sustaining growth through the right investments,” Cav. Sergio Stevanato, president of the Group states. "The objectives of the industrial plan are ambitious, but they are supported by a solid investment program of 140 million euro (for the period 2013-2016), which will optimize our world productive and business presence offering our clients, 90% of whom are outside of Italy, improved levels of service.”
In short, the Plan aims to exceed the growth rate sustained in the previous four years and is based on two main points:
Geographic expansion on a global scale: the objective will be achieved through the construction of production platforms developed together with the engineering division of the Group in countries in which the market is enjoying substantial and consistent growth (in order: North America, the Far East and South America). At the same time, marketing and sales structures able to efficiently meet the needs of clients will be developed. The Group aims to increase its market share along the same lines as it has achieved in the past, bringing the average annual growth figure of its consolidated sales to 14.7%.
Concentrating on products with high added value: the Group’s goal is its specialization in primary packaging for injectables and for this reason will dedicate most of its resources to the development of those new products (drug delivery device) which as it simplifies the administration of a drug, also reduces the impact it has on the patient’s lifestyle. It is a sector of the business which is characterized by double digit growth on a world scale. By the end of 2016, more than 60 million – of the 140 million - euro will have been invested in the EZ-fillTM product line. This range of glass containers for pharmaceutical use (syringes, bottles and carpules) is delivered entirely sterilized and ready to be filled. The main centre of production and R&D will continue to be the plant in Piombino Dese, thanks to the size of the investment foreseen.
The 140 million euro investment plan (2013-2016) will allow the firm to optimize its in-house processes and structures, streamlining the production set-up to a world level, and the revision of technology and processes. Once again it will be the in-house engineering division which will be the decisive element in terms of competition. Special attention will be paid to technological innovation, which has always played a key role in keeping the Gruppo Stevanato a step ahead of its competitors. New technology will be introduced which, starting with the glass container, will be able to respond to two fundamental needs: helping its pharmaceutical company clients to renew their product range and to improve the conditions of life of the patients.
Source: Stevanato Group