Abbott Laboratories Will Invest $270 Million in Ohio Nutrition Manufacturing Facility
03/02/2012
Abbott officials said they plan to build "a nutrition manufacturing facility" to produce two of the company's fastest-growing brands, Ensure and Glucerna, for the North America market. The plant will begin operations in late 2013. The state-of-the-art plant will specialize in aseptic packaging technology. Aseptic packaging has many benefits including the ability to expand the use of new ingredients, to shorten product development time, and to reduce energy use during manufacturing.
"As the U.S. population continues to age, particularly baby boomers, this new plant will enable us to meet the fast-growing demand for our leading adult liquid nutrition products, Ensure and Glucerna," said John C. Landgraf, executive vice president of global nutrition, Abbott. "It will be a key addition to our global manufacturing network that will allow the company to gain important operational efficiencies."
"Abbott Nutrition's U.S. headquarters and other operations are in Columbus, and we look forward to expanding our presence in the state with this facility," added Landgraf. "We appreciate the collaborative efforts of Gov. John Kasich and Tipp City Manager Jon Crusey and their development teams."
This growth is supported by attractive pediatric and adult nutrition market fundamentals, increasing global awareness of the importance of nutrition to overall health and well being, and the rise of an emerging-market middle class, an Abbott official said.
In October, Abbott surprised investors and analysts with the announcement that it would spin off its branded drug business into a separate company by the end of 2012. Company executives said the split would allow investors to separately value Abbott's businesses. The remaining core of Abbott Labs will consist of the company's nutritional, generic drug, and medical device units. After the split is complete, nutritionals will make up Abbott's largest business with annual sales of roughly $6 billion.
Project Announcements
Canfor Expands Fulton, Alabama, Production Operations
04/22/2024
Tucker Door & Trim Plans Henrico County, Virginia, Operations
04/19/2024
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
L3Harris Technologies Expands Orange County, Virginia, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024