12 September 2007 08:16 [Source: ICIS news]
MUMBAI (ICIS news)--Sigma-Aldrich has signed a memorandum of understanding (MoU) with China’s Wuxi-New District Park (WND) to invest in a site there for its new Asia-Pacific manufacturing operations, the company said on Wednesday.
The US-based fine chemicals and biosciences company plans to invest $25m in the first phase and start construction of the new plant at WND, which is located northwest of Shanghai, by the end of 2007. The site will be developed in three phases.
"As part of our 2005 strategic plan, we announced our intent to increase assets in CAPLA (Canada, Asia-Pacific, Latin America) regions to support the objective of achieving 25% of total revenue in CAPLA markets by 2010," said Jai Nagarkatti, Sigma-Aldrich's CEO.
"The addition of our facility in China will add essential capacity to service growing demand for SAFC products," said Frank Wicks, president of Sigma-Aldrich’s SAFC division.
SAFC is the division within Sigma-Aldrich that focuses on custom manufacturing, custom packaging and customised raw-material supply services.
"When fully developed the site is expected to produce raw materials, key intermediates and final products in support of SAFC's pharma, hi-tech and supply solutions businesses through a manufacturing plant," the company said.
It would also provide analytical, packaging and warehousing facilities, it added.
($1 = €0.72)
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