Wyeth to invest $280 m in China
(CNN)
Updated: 2008-03-11 14:59
Updated: 2008-03-11 14:59
Drug maker Wyeth said Monday it will invest $280 million in a nutritional plant to be built in China.
The plant, which will be located in Suzhou Industrial Park, Jiangsu Province, China, will mostly make infant formula milk powder and other nutritional products.
"When completed, this facility will enable us to meet the growing demand for nutritional products in the Chinese market," Wyeth Chairman Robert Essner said in a statement.
The plant is targeted to run by late 2010 and is expected to house about 500 workers.
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