BENTLEY-BASED animal pharmaceutical company Chemeq Ltd plans to lay off 50 employees and move its headquarters to its Rockingham facility. Chemeq chief executive David Williams said the decisions were a commonsense next step following the strategic review undertaken by the company in July – after Chemeq had attracted the attention of the regulators and the ire of investors. “Chemeq is in a strong financial position with $23.1 million in cash as at August 31 2006, and this reorganisation will ensure that our strong financial resources are focused on those activities that directly create value for Chemeq shareholders,” he said in a statement. “It is unfortunate that redundancies will occur, however it is crucial that Chemeq aligns its organisation with its corporate strategy, particularly given we do not intend to participate at all points in the overall product commercialisation process in the future.”
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