Swiss pharmaceuticals manufacturer Lonza has been forced to close its UK chemical plant.
The site at Wokingham is one of three plants across Europe to cease operation as part of an £83 million restructuring process, which aims to streamline the company.
According to a statement on Lonza’s website, the closures have been forced by the economic pressures of the past 18 months which have severely affected the cost effectiveness of the pharmaceutical industry.
"The re-engineering project is a key element in our endeavour to bring Lonza back to a sustainable growth," said the firm’s chief executive Stefan Borgas.
Exact numbers of staff at the Wokingham facility who are set to lose their jobs are not available, but between the three closing sites 175 employees will be left out of work.
Having established strong links in Belgium, the company is poised to transfer UK activities to Verviers, where it hopes to run a cost effective operation.
Lonza is one of the world’s largest providers of pharmaceutical, healthcare and life science chemical manufacturing, supplying customers across the UK.
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