Abbott to build milk powder plant in China

 ABBOTT will invest $230 million to build a state-of-the-art premium powdered milk products manufacturing facility in Jiaxing, China, which is expected to be operational in 2013 and employ approximately 300 people.
More than 17 million infants are born each year in China and rising incomes and a growing middle class have created increased demand for high-quality nutrition products. To meet the needs of this dynamic market, Abbott anticipates launching a number of new product innovations over the next three years across the paediatric nutrition category in China.
"This facility will play a key role in providing science-based, innovative nutritional products to infants and children whilst helping to build a healthier future for China," said John Landgraf, executive vice president, Nutritional Products, Abbott. "Building a strong local manufacturing base will position us to better provide Chinese parents the same high quality products they rely on today, even faster."
Abbott expects to increase its nutrition revenues in China to more than $1 billion by the end of 2014.New Arrivals