DOYLESTOWN, Pa., Feb. 3 /PRNewswire-FirstCall/ -- The Quigley Corporation, , www.quigleyco.com, today announced plans to consolidate its Pennsylvania-based manufacturing operations. The consolidation, initiated to improve manufacturing efficiencies, will result in the closure of the Company’s manufacturing facility in Elizabethtown, Pennsylvania. This facility primarily produced hard candy products whose profitability in recent times has been adversely affected by increased raw material costs and low-cost foreign sourced products. The Quigley Corporation plans to conclude the closure of the Elizabethtown facility in the coming months with the fulfillment of customer orders, followed by the disposal of location assets.
The Quigley Corporation’s manufacturing facility in Lebanon, Pennsylvania, will continue to produce and ship its COLD-EEZE(R) flagship cold remedy products, as well as the KIDS-EEZE(R) soft chew chest relief OTC expectorant, and Organix(TM) Cough and Sore Throat Drops.
Guy J. Quigley, Chairman, President and Chief Executive Officer stated, “We anticipate the consolidation of manufacturing capabilities will benefit our cost structure as we reduce costs associated with having two facilities particularly in light of current difficult economic conditions.”
About The Quigley Corporation
The Quigley Corporation is a diversified natural health medical science company. Its Cold Remedy segment is a leading marketer and manufacturer of the COLD-EEZE(R) family of lozenges, gums and sugar free tablets clinically proven to cut the common cold nearly in half. COLD-EEZE customers include leading national wholesalers and distributors, as well as independent and chain food, drug and mass merchandise stores and pharmacies. The Quigley Corporation has wholly owned subsidiaries; Quigley Manufacturing Inc. consists of two FDA approved facilities to manufacture COLD-EEZE(R) lozenges as well as fulfilling other contract manufacturing opportunities and Quigley Pharma Inc. (http://www.QuigleyPharma.com), which conducts research in order to develop and commercialize a pipeline of patented botanical and naturally derived potential prescription drugs.
Forward-Looking Statements
Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risk, uncertainties and other factors that may cause the Company’s actual performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition.
CONTACT: Media, Karen Pineman, +1-212-725-4500, kpineman@schwartz.com, or
Investor Relations, Carl Hymans, +1-212-725-4500, carlh@schwartz.com, both
of G.S. Schwartz & Co., for The Quigley Corporation
Web site: http://www.Quigleyco.com/
