Siemens to build $433M manufacturing plant in China
Siemens Healthineers is set to invest $433 million to construct a new laboratory diagnostics plant in Shanghai, China. Siemens Healthineers has decided to expand its capacity in Shanghai, based on Chinese government decision of opening its market of medical instruments to overseas investors.
The new laboratory diagnostic plant is said to be the firm’s first in-vitro diagnostic reagent plant in Asia Pacific, which will involve in the production of clinical chemistry and immunoassay reagents. Siemens’ new in-vitro diagnostic reagent plant will help create new 500 jobs in the region.
Previously, Siemens Healthineers agreed to acquire Luxembourg-based molecular diagnostic tests supplier Fast Track Diagnostics (FTD) for an undisclosed sum. FTD is engaged in the design, development and manufacturing of infectious disease detection kits. The company produces kits that can detect a range of viruses, bacteria, fungi and parasites.