August 16/Abbott Park, Ill./Press Release -– Abbott announced it will invest $230 million to build a state-of-the-art nutrition manufacturing facility in Jiaxing, China. The facility represents Abbott's largest investment in China to date and will manufacture premium powdered milk products for Chinese infants and children.
More than 17 million infants are born each year in China, per an Abbott press release, 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 pediatric nutrition category in China.