Abbott to Invest $230 Million in Chinese Facility

Abbott Laboratories announced that it will invest $230 million to build a state-of-the-art nutrition manufacturing facility in Jiaxing, China. The facility will manufacture premium powdered milk products for Chinese infants and children.

The plant, when operational in 2013, will employ approximately 300 people.

With the addition of the new facility in Jiaxing, Abbott noted that it will have opened six manufacturing and R&D facilities in its nutrition and pharmaceuticals businesses in the Asia-Pacific region during the past three years, including three in China.

Abbott expects to increase its nutrition revenues in China to more than $1 billion by the end of 2014.