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Schott and Xinkang Agree on Joint Venture in China

Post Time:Jan 17,2012Classify:Company NewsView:251

German technology group Schott and the Chinese company Zhejiang Xinkang Pharmaceutical Glass Co, Ltd have signed an agreement to establish a pharmaceutical packaging joint venture in China. Schott will own the majority of shares of the new company that will supply the fast-growing Chinese pharmaceutical market with high-quality pharmaceutical packaging products made of glass. The closing of the joint venture is subject to customary closing conditions.

“With the formation of this joint venture between Schott and Xinkang, two strong partners are joining forces. By  combining Xinkang’s knowledge of the local market with Schott’s technological expertise, we will be able to supply Chinese pharmaceutical companies with high-quality packaging products even more effectively in the future,” explained Professor Udo Ungeheuer, Chairman of the Board of Management of Schott AG. With this joint venture, Schott will be strengthening its position in the important growth market of China and continuing its expansion in the  emerging pharmaceutical markets.

Schott Pharmaceutical Systems already operates manufacturing facilities in Brazil, Russia and India. The joint enterprise will manufacture at both Schott’s existing site in Suzhou, Jiangsu Province and in Jinyun, Zhejiang Province.

Source: www.labmate-online.comAuthor: shangyi

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