The Female Health Company to Complete Expansion of FC2 Manufacturing Capacity in Malaysia Ahead of Schedule
Sep 19, 2012
CHICAGO, Sept. 19, 2012 /PRNewswire/ -- The Female Health Company (NASDAQ-CM: FHCO - News), which manufactures and markets the FC2 Female Condom® (FC2), today reported that the previously announced expansion of FC2 Female Condom® manufacturing capacity at its production facility in Malaysia will be completed well ahead of schedule.
In April, 2012, the Company announced plans to increase its FC2 production capacity by about 20% to an annualized rate of approximately 100 million units. The Company, which had projected the expansion to be complete by December 31, 2012, now reports the new lines will be in production in October, 2012. This capital expenditure was fully funded internally at a cost of approximately $700,000, and the Company remains debt-free.
"The expansion of our Malaysian production capacity has gone so well that the new lines will become operative in October, 2012, well ahead of the projected December schedule," stated Mike Pope, the Company's Vice President in charge of U.K. and Malaysian operations.
O.B. Parrish, Chairman and C.E.O., noted that, "Global demand for female condoms, which has been increasing at a rapid pace, along with anticipated future demand for FC2, triggered the expansion. Our major public sector customers are showing increased focus on FC2's dual protection against both sexually transmitted infections (including HIV/AIDS) and unintended pregnancy," said Parrish. "We are committed to meeting our customers' growing demand for FC2."
About The Female Health Company
The Female Health Company, based in Chicago, Illinois, manufactures and markets the FC2 Female Condom® (FC2), which is available in the U.S. and in about 137 other countries globally. The Company owns certain worldwide rights to the FC2 Female Condom®, including patents that have been issued in the U.S., the European Union, Canada, Australia, South Africa, Japan, The People's Republic of China, Spain, Mexico, Greece, Turkey and the African Regional Intellectual Property Organization (ARIPO), which includes Botswana, The Gambia, Ghana, Kenya, Lesotho, Malawi, Mozambique, Namibia, Sierra Leone, Somalia, Sudan, Swaziland, Uganda, United Republic of Tanzania, Zambia and Zimbabwe. FC2 patent applications are pending in various countries. The FC2 Female Condom® is the only available FDA-approved product controlled by a woman that offers dual protection against sexually transmitted diseases, including HIV/AIDS, and unintended pregnancy. The World Health Organization (WHO) has cleared FC2 for purchase by U.N. agencies. |
