BioNTech Shuts Sites in Germany and Singapore After Failing to Find Buyers
BioNTech's Site Closures and Restructuring Efforts
Background on the Closure Decision
FRANKFURT, Sept 28 - German COVID‑19 vaccine maker BioNTech said on Monday it would close sites in Germany and Singapore because it failed to find buyers after pivoting away from pandemic-era manufacturing.
Sales Process and Outcome
"Despite the best efforts of all those involved and a wide-ranging sales process, it has unfortunately not been possible to finalise a sale," said a spokesperson.
Support for Affected Employees
The spokesperson added that the biotech firm had agreed with the works council on socially responsible solutions and supplementary redundancy terms for affected staff.
Details of the Restructuring Plan
Sites and Locations Impacted
BioNTech said in May it would seek buyers for its German sites in Idar-Oberstein, Marburg and Tuebingen, as well as in Singapore, or otherwise wind them down.
Job Losses and Production Transfer
The restructuring, affecting up to 1,860 jobs, was part of a production transfer of its COVID-19 vaccine to partner Pfizer.
Leadership Changes and Company Outlook
Founders' Departure
BioNTech, the initial inventor of the Western world's most commonly used immunisation shot during the pandemic, said in March that its two co-founders would leave by the end of this year to start a new venture.
Financial Note
($1 = 0.8554 euros)
(Reporting by Patricia WeissWriting by Ludwig BurgerEditing by Miranda Murray)