U.S.-based pharmaceutical company Wyeth has announced it will invest USD281.58m to build its largest global milk powder products plant in Suzhou. Once the new facility is completed, Wyeth will close its Shanghai plant.
The plant represents the New Jersey-based company's largest single investment in China, and will bring its total investment in the country to USD440m. The plant will mostly produce milk powder for infant formula products, and will have an initial capacity of 40,000 tonnes per year when it opens in 2010.
Wyeth said that it is relocating the plant to Suzhou because it already has a drug factory in the city, and because of Shanghai's rising labour and rental costs.
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