logo
  Join        Login             Stock Quote

Abbott to Build Nutrition Manufacturing Facility in Ohio

Thursday, March 1, 2012 9:00 AM


Plant to Employ 240 to Meet Fast-Growing Demand for Adult Nutrition Products

ABBOTT PARK, Ill., March 1, 2012 /PRNewswire/ -- Abbott (NYSE: ABT) today announced plans to build a  nutrition manufacturing facility in Tipp City, Ohio, to produce two of the company's fastest-growing adult brands, Ensure® and Glucerna®, for the North America market.  Abbott will invest $270 million in the facility and will employ approximately 240 people. Groundbreaking is expected in April with the plant operational in late 2013.

"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, 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," said Landgraf. "We appreciate the collaborative efforts of Gov. John Kasich and Tipp City Manager Jon Crusey and their development teams."

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, shortened product development time and reduced energy use during manufacturing.

Abbott's nutrition business currently generates approximately $6 billion in sales, which is expected to grow to more than $9 billion by 2015. 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. The nutrition business is one of the cornerstones of Abbott's diversified portfolio.

About Abbott Nutrition

For more than 85 years, Abbott Nutrition has been developing and marketing science-based pediatric and adult nutritional products to support the growth, health and well-being of people all over the world. Globally recognized brands include Similac®, PediaSure®, Gain®, Ensure and Glucerna.

About Abbott

Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs approximately 91,000 people and markets its products in more than 130 countries.

Abbott's news releases and other information are available on the company's Web site at www.abbott.com.

SOURCE Abbott

(Source: PR Newswire )
(Source: Quotemedia)

Advertisement
Advertisement



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.