Wyeth Corporation announced its largest investment project in China, a 2 billion-RMB investment to set up its largest nutritional foods manufacturing base by advanced international standard in SIP. A foundation laying ceremony held the same day was attended by Mr. Robert Essner, Chairman of Wyeth Corporation (HQ), Wang Rong, Executive Member of CPC Jiangsu Provincial Committee and Secretary of CPC Suzhou Municipal Committee, and Wang Jinhua, Chairman of Suzhou Municipal Political Consultative Conference and Secretary of SIP Party Working Committee.

Wyeth USA, a Fortune-500 enterprise, is also the world's largest multinational pharmaceutical corporation.


Wyeth invested in a modern pharmaceutical enterprise in Wuzhong District, Suzhou, back in the early 90s, and increased another USD5.85 last year to expand the project. Wyeth Nutritional (China) Co., Ltd., currently under construction, is expected to go into operation by 2010 with an annual capacity of 40,000 tons, chiefly of milk powder of special recipes for infants and children and other health foods for the Chinese market.


In his meeting with Mr. Essner, Wang Rong says, "In the fast economic development in Suzhou in recent years, we have benefited from the investment by large-scale hi-tech enterprises like Wyeth, which brought about high-quality development." He told the guests that Suzhou would continue to render good service and create better environment for the growth of various enterprises. Mr. Essner expressed that Wyeth had been inspired by the software and hardware environment in Suzhou to renew its investment, and Wyeth would introduce to China the most advanced technologies.