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Merck Sells Arecibo Facility to AIAC

AIAC will supply certain products to Merck for a period of time

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By: Kristin Brooks

Managing Editor, Contract Pharma

Merck entered an agreement with American Industrial Acquisition Corp. (AIAC) to sell its manufacturing facility in Arecibo, PR, which was scheduled to close. AIAC will retain the approximately 200 Merck employees at the Arecibo facility.
 
AIAC is a U.S.-based industrial group comprised of 60 manufacturing sites in 18 countries, and has $1.5 billion in annual revenues. The group was built over the last 18 years by acquiring, operating and growing former divisions and subsidiaries of leading corporations such as United Technologies, Boeing, Siemens, Ingersoll Rand and Lockheed Martin. AIAC manufactures for Dow, ABB, GE, Shell, Du Pont and many other companies.
 
“This transaction represents a major achievement, not only for Merck, but also for The Puerto Rico Industrial Development Company (PRIDCO) and for Puerto Rico,” said PRIDCO executive director Antonio Medina. “Upon completion of the transaction, Puerto Rico will retain the operation of Merck’s second site that was under closing plans, now with a different owner, protecting the jobs and manufacturing operations in the area.  This reaffirms the island capabilities to attract renewed industrial investment.”
 
According to the information provided to PRIDCO, under the agreement, the facility would continue to supply certain products to Merck for a period of time. Eventually, some of those products will consolidate into Merck’s Las Piedras manufacturing facility and others will transfer to a third-party contract manufacturer.  AIAC would continue running the operations in Arecibo, supplying other manufacturing products for other clients.
 

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