Huabei Pharmaceutical Group To Relocate In Hebei
This article was originally published in PharmAsia News
Executive Summary
Huabei Pharmaceutical Group and its subsidiaries will start shifting to Liangcun Economic and Technical Development Zone from this July. The relocation project, supported by Hebei province, has been allocated a total investment of 2.360 billion yuan ($338 million), of which new fixed assets take up 1.460 billion yuan ($209 million). After the move, Huabei Pharmaceutical's revenue is estimated to reach 3.508 billion yuan (502 million), with new sales and profit to hit 1.777 billion yuan and 500 million yuan respectively. Huabei Pharmaceutical will also focus on consolidating its joint venture with DSM this year. (Click here for more - Chinese Language)