German technology firm Schott will build a new pharmaceutical packaging plant in Shanghai, China, in a bid to increase its presence in the Asian growth market.
Expected to become operational in 2017, the plant will manufacture glass packaging, in particular vials and ampoules, for injectable drugs.
The company also plans to revamp and expand its existing facilities at its integrated site in Suzhou.
Schott’s Pharmaceutical Systems unit plans to invest €30m in China over the next three years.
These investments are expected to increase the company’s production capacity by 50%.
Schott currently operates from two production facilities, including a plant in Suzhou and through its joint venture, Zhejiang Xinkang Pharmaceutical Glass Co.
The plans for new plant follows the company’s announcement in April to make further investments in its pharmaceutical packaging plant in Itupeva, Brazil, to cater to the increasing demand for pharma packaging.
During the last fiscal year, the company invested approximately R$15m ($4.95m) in its Itupeva facility, which produces quality ampoules, vials and cartridges.
Schott Pharmaceutical Systems business unit executive vice-president Andreas Reisse previously said: "Brazil in particular is a very interesting market for us.
"With these investments, we want to make sure that our South American customers are supplied in the best possible way."
Schott employs 15,400 people across its production sites and sales offices in 35 countries. The company generated €1.87bn in annual sales in fiscal year 2013/2014.
Image: The new plant will manufacture glass packaging for injectable drugs. Photo: courtesy of Schott.