(Covington, Ohio)– Infant formula manufacturer PBM says it will buy the Kerry Proteins and Ingredients facility here when that operation closes. The deal for the plant, located at 400 Hazel Street, is expected to close in April.

“When we learned that Kerry had decided to sell its (facility) in Ohio, PBM recognized an opportunity to expand our capacity to manufacture infant formula right here in the United States,” said PBM CEO Paul B. Manning. “We believe the Covington facility will complement our existing manufacturing operations in Vermont and enable PBM to manufacture more powder infant formula for our growing customer base.”

Company officials haven't said how many they plan to hire or how much they will spend for equipment at the new operation.

Ireland-based Kerry Group (LSE: KYGa), one of the world's leading food ingredients suppliers, recently told the state of Ohio it would be shutting down the Covington facility and letting about 60 workers go.

PBM, a privately owned company based in Gordonsville, VA, specializes in manufacturing, distributing, and marketing consumer food, nutritional, and pharmaceutical products. PBM companies include PBM Holdings, Inc., PBM Products, LLC, PBM Nutritionals, LLC, PBM Covington, LLC, PBM Pharmaceuticals, Inc., PBM Canada Holdings, Inc., PBM (Guangzhou) Nutritionals Co., Ltd., and PBM Products Mexico, S. de R.L. de C.V.

source: http://www.daytondailynews.com/