Neptune Technologies &
Bioressources Inc. NEPT announced today its
action plan going forward to resume operations which have been interrupted as
a result of the incident that occurred on November 8, 2012 at its production
plant located in Sherbrooke, Québec and to progressively supply customer
demands in the interim.
Following the incident, Neptune's focus has, and continues to be, concentrated
first and foremost on its employees and the families of those most affected by
the incident, and supporting them through the tragedy. Quickly following the
incident, Neptune has established five recovery committees composed of senior
management and key employees to coordinate employee assistance, the action
plan and business aspects: (1) human resources & communications, (2) sales &
marketing, (3) plant reconstruction, (4) finance and (5) a strategic committee
overseeing potential strategic opportunities and coordinating the efforts of
all committees.
While this tragic incident had and still has a significant impact on Neptune's
operations, Neptune believes it remains a viable business and is committed to
recovering from the incident, which will be pursued through the implementation
of a strategic action plan going forward (the "Plan") aiming to meet the
following key milestones and targets:
* resuming its neutraceutical operations and certain levels of sales of its
Neptune Krill Oil® products to customers in the short term;
* maintaining key customer relationships and market share, particularly
until production of Neptune Krill Oil® products can reach pre-incident
levels;
* reconstructing an operational plant using the expansion facility that was
under completion and certain existing equipment in the expansion, which
expansion and equipment do not appear to have suffered considerable
damages from the incident;
* pursuing partnerships and/or arrangements with one or more strategic
partners for the outsourcing of production for Neptune Krill Oil®
products, both as an interim measure to ensure certain levels of
production prior to its new plant being fully operational and as a
longer-term strategy to diversify sources and means of production; and
* prudently managing its financial resources while continuing its product
development and clinical trials, including defending its patents and
intellectual property and supporting as planned the pharmaceutical
development of its two subsidiaries, Acasti Pharma Inc. ("Acasti") and
NeuroBioPharm Inc. ("NeuroBio"), whose operations have not been
interrupted as a result of the incident.
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