Bespak renews major valve contract
Bespak is pleased to announce that it has renewed one of its major valve contracts on a long term basis. The contract is expected to be worth over £25m over the next 5 years.
Bespak is a world leading manufacturer of valves for metered dose inhalers (MDIs) used in the treatment of asthma and COPD. Its MDI valves are marketed with a wider range of customer formulations than any other company. This blue chip pharmaceutical customer base tends to enter into long term supply contracts with Bespak.
Bespak has after some months of negotiations completed a long term extension to a contract with one of its leading customers. This renewal confirms Bespak’s position as a supplier of high quality valves with excellent customer service. Consort Medical plc, Bespak’s parent company, had previously reported that valve volumes were affected by customer destocking. However, this contract renewal demonstrates that the business will be well positioned as volumes recover across the industry.
Joe Barry, CEO of Bespak, said: In challenging market conditions we are demonstrating our commitment to meeting the very highest standards of customer service and quality at a competitive price. This contract renewal demonstrates the defensive resilience of the Bespak division and we are delighted to be able to continue supporting an important customer for a number of years to come.