Neogen Corporation Expanding Animal Health Operations in Kentucky

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Neogen Corporation (NASDAQ: NEOG) (Lansing, Michigan) is in the midst of an expansion in Lexington, Kentucky. Among the company's multiple product lines are tests that detect E.coli, mycotoxins, and banned ruminant byproducts in feed, which spread mad cow disease.

Neogen's current Lexington plant, located at 628 Winchester Road, manufactures equine pharmaceuticals and diagnostic tests, as well as research materials (Plant 1062748). The new research and manufacturing facility will be located on Nandino Boulevard, the site of a warehouse that Neogen recently purchased for $2 million. (Plant 1062749)

With the help of local tax incentives valued at $64,000, the company expects to hire an additional 70 people when they move into their larger facility later this year. Those jobs will reportedly pay a range from $27,000 to $90,000 or more per year.

In addition to the physical expansion, Neogen has been busy with business acquisitions. The company recently purchased two ConAgra (NYSE: CAG) (Omaha, Nebraska) (Company 1032581) subsidiaries for $12 million, Hess & Clark, an Ohio company that makes disinfectants for farms and food-processing facilities and Hacco Incorporated (Randolph, Wisconsin) (Plant 1504052), a rodenticide manufacturer. The Hess & Clark operations will be moving to Lexington, while Hacco will remain in Wisconsin. Neogen is projecting 2004 revenue of $56 million, up 16 percent, including the new acquisitions.

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