French drug giant Sanofi to set up China research institute -- French pharmaceutical giant Sanofi is planning to set up its first research institute in China, in the eastern city of Suzhou, to further expand its presence in the world's most populous country. Sanofi announced on November 20 that the research institute in Suzhou industrial park is scheduled to open in the third quarter of 2019. The drugmaker will invest 20 million euros (22.8 million U.S. dollars) in the research institute each year over the next five years and initially recruit 30 to 50 Chinese research staff.
Saint-Gobain looks to expand market presence in China -- Increasing demand for high-quality homes in China is creating opportunities for companies such as French construction materials company Saint-Gobain. The company is looking to double its presence in the country in the coming three years, as China proactively attracts foreign investments as part of an effort to shore up the economy. Saint-Gobain's performance in China has been solid and the country has always been a very important market for the company, said Javier Gimeno, CEO of Saint-Gobain's Asia-Pacific operations. (Source: China Daily)
US maker of health products Vitamin World to expand Chinese presence -- Vitamin World, the United States-based manufacturer of health products, plans to further tap into Chinese markets by expanding e-commerce platforms, introducing new products and deploying more resources into research and development to maintain robust growth. The New York-headquartered company announced earlier this week in Boston a new joint antioxidant research initiative with Beth Israel Deaconess Medical Center - a teaching hospital affiliated with Harvard Medical School. The company said one of the reasons behind this collaboration is growing demand for health products in China as the country has rapidly emerged as a key market for Vitamin World and its strategy for continued global expansion. (Source: China Daily)
Gestamp opens USD 56mln production facility in Tianjin -- Gestamp Automocion SA, a Spain-based multinational in vehicle components, has strengthened its presence in China by opening a new 50 million euros (56.58 million U.S. dollars) production facility in Tianjin. At the opening ceremony on November 15, Gestamp Executive Chairman Francisco J. Riberas said that China is "the most important priority" of the firm's globalization strategy, adding: "We are fully committed to bringing the latest technologies to the Chinese automotive market in order to make lighter and safer cars." The new plant, Gestamp Auto Components (Tianjin) Co Ltd, brings Gestamp's China count up to 11 production facilities and 2 research and development centers. (Source: China Daily)
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