Covance ($CVD) is betting on a boom in the demand for nutritional chemistry and food safety services, planning to cut the ribbon on a 10,000-square-foot lab in the U.K.
The global CRO plans to open up shop this summer in Harrogate, U.K., hiring 25 people at the outset and employing 100 by year 5. The new facility will support Covance's three U.S. nutritional chemistry outposts and one in Singapore, drawing on a $975,000 grant from the local government to help fund construction, the company said.
Covance picked the site for its proximity to the research institutions and scientific talent in nearby Leeds, department General Manager Brad Riemenapp said, giving the CRO a springboard to expand its presence in the European market.
"Our new European site for nutritional chemistry and food safety services will enable us to provide the consistency of service and quality testing that our clients have come to expect from Covance, from a location that is closer and more convenient to their European operations," Riemenapp said in a statement. "In Harrogate, we will conduct cutting-edge research in food contaminants testing and the full spectrum of nutritional chemistry."
The booming Covance expanded its revenue by 11.4% to $606.7 million last quarter, expecting to report about 10% annual growth when it discloses its 2013 results on Feb. 5.
- read the announcement
Editor's note: An earlier version of this story misstated how many jobs Covance plans to add. We regret the error.