EMCC European Monitoring Centre on Change

Albany Molecular Research

Company/Organisation:
Albany Molecular Research

Geographic Location

Country: Hungary
Region: Budapest; Kozep-Magyarorszag; Kozep-Magyarorszag
Location of affected unit(s): Budapest

Company

Sector: Professional services
Scientific research and development
72.1 - Research and experimental development on natural sciences and engineering
Number Employed: 100

Employment Effects

Announcement Date: 22-03-2012
Planned Job Reductions min: 100
Type of Restructuring: Closure
Employment Effect Start: 30-03-2012
Direct Dismissals: 100

Additional Information

On 22 March 2012 Albany Molecular Research, an American chemicals company, has announced the closure of its research institute in Budapest and to make its entire workforce of 100 redundant, effective from 30 March. The closure of its Hungarian Unit is part of the companies international restructuring measures due to the loss booked in the last year.

Albany Molecular Research is a global contract research and manufacturing organization, which supplies a broad range of services and technologies to develop pharmaceutical products and the manufacturing of other drug products. It employs 1,389 employees all around the world.

The Hungarian unit was established in 2006 with the acquisition of ComGenex and saw substantial investment in 2009 through capacity extension and modernisation.