Market Overview

Merck to Move Global Headquarters Within New Jersey

Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced plans to move the company's global headquarters within the state from Whitehouse Station, N.J. to its existing property in Summit, N.J., which currently houses research, manufacturing, animal health and consumer care operations and is home to 1,800 people. The company will close its current headquarters building in Whitehouse Station, N.J. The transition process is expected to begin in 2014 and be completed in mid-2015.

The headquarters relocation is part of the company's ongoing program to consolidate its global real estate footprint and lower its annual operating expenses, following its merger with Schering Plough in 2009. The Summit location was selected as the site for Merck's new headquarters because it is a strategic, multi-use site with excess work-space capacity and is adjacent to major transportation hubs and desirable urban centers.

"The relocation of our headquarters will help us achieve our future vision, reduce the size of our operating footprint, and increase agility as we adapt to our changing business environment," said Kenneth C. Frazier, chairman and chief executive officer of Merck.

About 2,000 employees and contractors currently situated at the Whitehouse Station global headquarters building either will move to the new facilities in Summit or to other nearby facilities such as those in Branchburg, N.J. and Cokesbury, N.J.

Merck has been headquartered in Whitehouse Station since 1992. Prior to that, the company was headquartered in Rahway, N.J.

Posted-In: News

 

Most Popular

Related Articles (MRK)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters