US-based dispensing systems supplier AptarGroup has announced plans to invest $26m to increase the capacity of its Aptar Stelmi pharma packaging business, which was acquired in July 2012.
The investment will be used to expand facilities, add new equipment and upgrade technology over 2014.
AptarGroup president and CEO Stephen Hagge said the business is benefiting from the growth in the injectable drug delivery industry and the existing production facilities are nearly at full capacity.
"While our long-term objective is to establish a production facility closer to growing markets outside of Europe, our initial investment in capacity expansion will be at Aptar Stelmi’s existing facilities in Europe," Hagge added.
The investment will allow the company to integrate the new technology before it expands globally.
Aptar Stelmi is a European supplier of elastomer primary packaging components to the injectable drug delivery industry. Its products include syringe plungers, vial stoppers, and needle shields.