RNS 28th July28 Jun 2021 08:08
28/06/2021 7:00am
RNS Non-Regulatory
TIDMTRX
Tissue Regenix Group PLC
28 June 2021
Tissue Regenix Group plc
("Tissue Regenix" or "the Group")
Completion of phase one of new US facility expansion project
Tissue Regenix (AIM: TRX), the regenerative medical devices company, announces the completion of phase one of its expansion plans, which increases manufacturing capacity at its San Antonio Texas facilities. The San Antonio facilities include the Company's existing facility and a 21,000 sq. ft facility adjacent on which it has a ten-year lease.
The Company announced on 18 March 2021 that it had completed the initial part of its expansion project. Overall, phase one was completed both on time and on budget.
The remaining aspects of phase one consisted of expanding the space for supporting administrative departments, which has taken place in the Company's leased facility adjacent to its existing facility, and building and qualifying two additional clean rooms, which are in the Company's existing facility. The two clean rooms are being used for the processing and packaging of tissue products, bringing the Company's total number of clean rooms to seven. Relocation of the supporting departments to the adjacent facility has also created additional expansion opportunities for production and quality functions in the Company's existing facility.
Daniel Lee, Chief Executive Officer of Tissue Regenix Group plc, said: "The completion of our phase one expansion plans on time and on budget is excellent news, and provides us additional capacity and flexibility in line with our projected growth in our different target markets. Staging our expansion was a prudent opportunity to meet our demand and capacity needs in an efficient manner."