24th Jul 2014 13:28
LONDON (Alliance News) - Reckitt Benckiser Group PLC said Friday that it plans to invest GBP100 million in its consumer health research and development operations to create a Centre of Scientific Excellence in the UK.
The household, consumer health and hygiene products manufacturer said that the investment underlines its commitment to grow its consumer health and hygiene brands.
The company owns several consumer health brands including Gaviscon, Nurofen and Strepsils, alongside its other brands in the hygiene and home portfolios like Finish and Calgon.
The site is one of six of its research and development facility worldwide. It has opted to locate the new centre at the Hull site after a review of its other locations. It will develop a new building on the site equipped with health laboratory facilities. It will also upgrade the current home care category research and development facilities at the site.
Work has already begun and the design and planning of the project, and it expects building work to start early in 2015. The new centre will be fully operations by early 2018, it said.
"It is a statement of intent to drive positive change consumer health," said Chief Executive Rakesh Kapoor in a statement. "It not only shows the importance we place on innovation, but also underlines our faith in the UK as a place to invest in technical expertise and in consumer health R&D."
Shares in Reckitt Benckiser were trading down 0.5% at 5,105.00 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
RB..L