AMPAC Fine Chemicals and SK biotek Become New US Corporation Focused on Expanded Support to the World's Pharmaceutical Industry

SACRAMENTO,California,Sept. 17,2019 --SK Holdings,the holding company of South Korea's SK Group,has established SK pharmteco,a U.S.-based Contract Manufacturing Organization (CMO) supporting Pharmaceutical Customers worldwide. This move combines SK biotek in Korea,SK biotek in Ireland,and AMPAC Fine Chemicals (AFC) in the US,to form SK pharmteco,a consolidated CMO. The business is led by Aslam Malik,former CEO of AFC,as Chief Executive Officer,with headquarters in Sacramento,California.

"The creation of Pharmteco provides an excellent base upon which we will grow our global CMO business," shares Dr. Aslam Malik,CEO of SK pharmteco. "We are grateful for the strong support of SK Holdings and with our demonstrated Quality,six production plants,one analytical testing facility,and a wide array of enabling technologies,we are able to offer our unique value proposition to customers on an expanded global scale," added Dr. Malik.

SK pharmteco boasts a CMO production capacity of over 1000 m3 and plans further growth over the next few years. Companies constituting Pharmteco will continue to operate with their in-place identities in full support of existing customer product registrations.

ABOUT SK PHARMTECO

SK pharmteco is a U.S.-based Contract Manufacturing Organization (CMO) that consolidates the operations of AMPAC Fine Chemicals and SK biotek Korea and Ireland. The company has global manufacturing facilities with demonstrated capabilities in process development,scale-up,and cGMP-compliant commercial production of active pharmaceutical ingredients and registered intermediates for pharmaceutical and biotechnology customers worldwide. SK pharmteco Headquarters are in Sacramento,California with AMPAC Fine Chemicals operations in Rancho Cordova and El Dorado Hills,La Porte,Texas,and Petersburg,Virginia,US and SK biotek operations in Swords,Ireland,and Daejeon and Sejong,Korea. For more information,you can visit us at ampacfinechemicals.com and SKbiotek.com.

ABOUT SK HOLDINGS

SK Holdings continues to enhance its portfolio value by executing long-term strategic investments with a number of competitive subsidiaries in various business areas,including pharmaceuticals and life sciences,energy and chemicals,information and telecommunications,and semiconductors. In addition,SK Holdings is focused on reinforcing its growth foundations through practical management based on financial stability,while raising its enterprise value by investing in new future growth businesses. For more information,please visithttp://www.sk.com/en/index.jsp.

Logo - http://cusmail.com/res/2023/07-22/18/7d311c1d7dede278f14e6154693c7f2c.jpg