TORONTO, ONTARIO--(Marketwire - December 31, 2007) - PharmEng International Inc. (TSX VENTURE: PII), announced today that its subsidiary, Keata Pharma Inc., has completed its agreement with Pfizer Canada to acquire Pfizer’s manufacturing facility in Arnprior, Ontario, including inventory. Concurrently, Keata has also entered into a supply agreement with Pfizer for the exclusive manufacture of certain Pfizer products for Canada at the Arnprior facility for a period of three years. Keata will also manufacture products from the Arnprior location for two other major pharmaceutical clients with multi-year supply contracts, becoming a world supplier to more than 30 countries. The aggregate revenues of these multi-year supply contracts is estimated by PharmEng to be approximately CAD$75,000,000.
