Hosted Ribbon Cutting Ceremony for the New Bausch + Lomb ULTRA® Contact Lens Manufacturing Line and Solar Array Implementation
LAVAL, Quebec, Sept. 8, 2014 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today announced that the company hosted a ribbon cutting ceremony for the new Bausch + Lomb ULTRA® contact lens manufacturing lines and solar array assembly at the company's Optics Center in Rochester, NY. The ceremony recognized the expansion and installation of the new manufacturing lines, which will produce the company's silicone hydrogel contact lens, Bausch + Lomb ULTRA. The solar array, which is currently under construction, will generate and supply electricity through the installation of 3,667 solar panels, helping to reduce the Rochester facility's carbon footprint by 800 tons of carbon dioxide emissions annually.
In attendance at the event were Senator Charles Schumer, Vincent Esposito from Empire State Development, on behalf of the Governor, several other members of government and local business leaders.
"Our Rochester facility is a very important piece of our strategy to rebuild Bausch + Lomb as one of the leading contact lens producers," stated J. Michael Pearson, Valeant's Chairman and Chief Executive Officer. "Our Rochester Optics Center is a first in class manufacturing site for contact lens manufacturing and distribution, and with the new contact lens manufacturing lines, we will add much needed production capacity to supply both current and future demand. I want to thank both Senator Schumer and the State of New York for their support of this project. "
"Rochester's Bausch + Lomb workforce invented the contact lens and it's only fitting that Bausch + Lomb's next great lens innovation, Bausch + Lomb ULTRA, will be manufactured in Rochester by 120 newly-hired workers," stated Senator Charles Schumer. "I appreciate that Bausch + Lomb's parent company Valeant heeded my call last summer to build these new multi-million dollar manufacturing lines right here in Rochester -- and not overseas. These new Bausch + Lomb manufacturing lines will help keep more than 1,000 good-paying, high-skilled jobs here in Rochester. All signs say Bausch + Lomb ULTRA has the potential for massive growth, which will keep Rochester and its innovative workers at the forefront of growing this storied Rochester company for decades to come."
Empire State Development President, Chief Executive Officer & Commissioner Kenneth Adams said, "Today's ribbon cutting is a win for Bausch + Lomb's Rochester workforce and for the local economy. New York State's investment in the future expansion of Bausch + Lomb's manufacturing lines in Rochester will retain hundreds of jobs and bolster an iconic Rochester company."
About Valeant Pharmaceuticals International, Inc.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology and branded generics. More information about Valeant Pharmaceuticals International, Inc. can be found at www.valeant.com.
About Bausch + Lomb
Bausch + Lomb, a Valeant Pharmaceuticals International, Inc. company, is a leading global eye health organization that is solely focused on protecting, enhancing, and restoring people's eyesight. Our core businesses include ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. We develop, manufacture and market one of the most comprehensive product portfolios in our industry with products available in more than 100 countries.
This press release may contain forward-looking statements, including, but not limited to, statements regarding the future investment in production capacity and the related benefits and effects of such programs. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the company's most recent annual or quarterly report filed with the Securities and Exchange Commission ("SEC") and other risks and uncertainties detailed from time to time in the Company's filings with the SEC and the Canadian Securities Administrators, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
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