Wyeth said it would invest $96 million (SGD $134 million) to expand its existing nutritional manufacturing facility in Tuas, Singapore. The Singapore Economic Development Board is partnering with Wyeth to support the successful completion of the project.
"This investment reflects Wyeth's 90-year heritage of scientific innovation and commitment to paediatric nutrition," said Mark Larsen, president, Asia Pacific and Nutritionals, Wyeth Pharmaceuticals. "A key element of our company's mission is ensuring that infants and children have access to the best and highest-quality products. This site will help us to continue to achieve that objective."
The state-of-the-art facility, utilising the strictest operational and quality standards, would produce key brands of Wyeth nutritional products for infants and toddlers, including formula and milk products sold as Progress and Promise. The expansion will increase the plant's capacity by 50 percent, enabling the facility to increase its supply to the Singapore market, as well as manufacturing additional product for export to other key markets throughout the Asia Pacific region.
Expansion at the Tuas site is the final phase of a $500 million capital improvement project in the Asia Pacific region, which includes previously announced investments to Wyeth's global nutritional manufacturing and supply operations in China and the Philippines.
Aw Kah Peng, assistant managing director, Singapore Economic Development Board, said the Government was pleased with the announcement of yet another significant investment in Singapore.
"The Economic Development Board is committed to ensuring the ongoing success of Singapore by maintaining a pro-business environment that facilitates multi-national companies' global expansion. This multi-million dollar capital intensive project provides further testament of Singapore's strategic position as key partner to leverage opportunities in expanding Asian market. We look forward to continuing our strong partnership with Wyeth," she said.