Boehringer Ingelheim Chemicals will close its Petersburg, Va. plant at the end of 2014. The facility will continue normal operations through the remainder of 2013 and phase out operations the following year. The closure will impact 240 employees through a multi-stage process beginning December.

The Petersburg facility manufactures active pharmaceutical ingredients. BICI's parent company conducted a review of its manufacturing capabilities worldwide, as well as needs in the industry, and determined that it had more capacity than the marketplace can sustain.

The company announced it will be offering out-placement services and will reach out to industry partners to explore other opportunities for employees. Boehringer Ingelheim Chemicals explored selling the facility but was unable to find a suitable buyer. The company is working with city and state officials to find a use for the facility.