Neogen doubling R&D staff to increase development

Neogen Corp., which makes test kits for food and animal safety, said Thursday it will double its research and development staff to help create new products, mainly in its animal safety division.

The company said it will hire an additional 23 personnel by early fall.

"As we now plan to double our revenues toward $200 million, the need to also double our research and development efforts became obvious," said James Herbert, Neogen's chairman and chief executive, in a statement. "With the rapid expansion of our revenue and worldwide presence has come a tremendous number of new opportunities for product development."

The company needs the larger staff to develop those opportunities, he said. Most additions will be in the company's Lansing, Mich., laboratories, though it will support new products for the Lexington, Ky.-based animal safety division, as well as research teams in Randolph, Wis., and Ayr, Scotland.

"As the world has become smaller in terms of food imports and exports, and as regulations regarding food and animal safety are becoming more stringent throughout the world, there are a tremendous number of opportunities to enhance Neogen's growth," Herbert said.

Neogen shares gained 27 cents to $25.01 in light morning trading.