Federal, State and Local Officials Join AMPAC Fine Chemicals in Celebrating Re-Opening of Facility Operations in Petersburg, VA

AFC will grow its pharmaceutical manufacturing capabilities with
advanced technology and refreshed infrastructure, bringing more than 110
new jobs to Petersburg over the next few years

PETERSBURG, Va.–(BUSINESS WIRE)–AMPAC Fine Chemicals (AFC), a leading manufacturer of Active
Pharmaceutical Ingredients (APIs) in the United States, was joined
Monday by Virginia Senator Rosalyn Dance, Petersburg Mayor Samuel Parham
and staff of US Senators Mark Warner and Tim Kaine, Congressman Donald
McEachin and Delegate Lashrecse Aird for a ribbon cutting ceremony
celebrating the company’s re-opening of manufacturing operations at its
pharmaceutical ingredient facility, including upgrades to
state-of-the-art technology and infrastructure refurbishment in the
plant in Petersburg, VA.

“Today’s ribbon cutting marks an important step in AFC’s growing
economic investment in the US, and Virginia, as well as our commitment
to developing new community partnerships,” said Dr. Aslam Malik, AFC
President and CEO. “We are excited to re-open the facility and broaden
our capabilities in Petersburg, VA, allowing us to employ more local
residents and manufacture critical pharmaceutical ingredients for
lifesaving therapies.”

Located on nearly 200 acres inside Petersburg’s industrial complex, the
facility has 50,000 gallons of total capacity and will generate more
than 110 new jobs over the next few years for positions ranging from
custodial care to chemical engineering. Additionally, indirect jobs to
support further updating the facility have been onsite. AFC is committed
to a diverse and inclusive workplace that represents best-in-class
employees from Petersburg and the surrounding Richmond metropolitan area.

“AFC’s updated facility boasts state-of-the-art technology that we hope
will attract more talent and new business in Petersburg,” said
Congressman A. Donald McEachin. “I applaud AFC for investing in ways
that will help support important community services, students,
educational institutions, workers and Virginia’s future.”

The pharmaceutical ingredients manufactured at the facility will be
supplied to large and small pharmaceutical companies across the US and
are critical components of medicines treating patients with such
life-threatening conditions as central nervous system deficiencies,
cancer and epilepsy.

In addition to increasing its manufacturing capabilities, AFC will
deepen its community engagement through local education partnerships and
philanthropic initiatives. During the ceremony, AFC presented a donation
to the Petersburg Police Chief and Managing Director of Public Safety of
a Self-Contained Breathing Apparatus (SCBA) recharge device that will
enable firefighters to refill air tanks on site of a fire.

In addition to US, Virginia and local officials, the ceremony was
attended by more than 100 guests, along with AFC employees who enjoyed a
community lunch after the event in celebration. AFC was recently
acquired by SK Holdings, an investment holding company of SK Group,
headquartered in Seoul, South Korea and is the largest M&A transaction
announced in the Korean pharmaceutical industry to date.

ABOUT AMPAC FINE CHEMICALS LLC

AFC is a U.S.-based company with demonstrated capabilities in process
development, scale-up, and cGMP-compliant commercial production of
active pharmaceutical ingredients and registered intermediates for
pharmaceutical and biotechnology customers. AFC is a portfolio company
of SK Holdings (Seoul, Korea) and serves as a strategic part of SK’s
growing pharmaceutical sector. AFC’s specially engineered facilities and
experienced staff allow AFC to safely produce highly-energetic compounds
at commercial scale. In addition, AFC’s other technology platforms
include production of highly potent compounds, continuous processes and
industrial-scale chromatographic separation using simulated moving bed
chromatography and Analytical Services to the Pharmaceutical Industry.
AFC’s operations are in Rancho Cordova & El Dorado Hills CA, in La
Porte, Texas and in Petersburg, VA. Additional information about us can
be obtained by visiting our web site ampacfinechemicals.com.
Contact: Patrick Park +1 (916) 357-6376 SOURCE: AMPAC Fine Chemicals
(AFC)

ABOUT SK HOLDINGS

SK Holdings continues to enhance its portfolio value by executing
long-term strategic investments with a number of competitive
subsidiaries in various business areas, including pharmaceuticals and
life sciences, energy and chemicals, information and telecommunications,
and semiconductors. In addition, SK Holdings is focused on reinforcing
its growth foundations through practical management based on financial
stability, while raising its enterprise value by investing in new future
growth businesses. For more information, please visit http://www.sk.com/en/index.jsp.

Contacts

Patrick Park +1 (916) 357-6376