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article image3M China opens two plants in Shanghai

By Wang Fangqing     Oct 14, 2009 in Business
China's strong resilience against the financial crisis is clearly a sign of guaranteed return for foreign investors. The company 3M just opened two new plants in Shanghai on Oct. 13.
The Maplewood-based multinational chemical company is now operating the two plants -- Asia Pacific Production Facility for Medical Device and Jinshan Special Material Production Facility -- to localize the regional supply chain and expand businesses in mainland China, reports Shanghai Daily.
The medical device facility, which is the largest for 3M in Asia Pacific, will supply 40 percent of the products to the mainland Chinese market and export the rest to other Asian countries.
Wallach Wu, general manager of 3M China Health Care Business, said the ongoing Chinese medical reform will generate more demand for medical devices and related technologies in the country.
The Chinese government passed a new medical reform plan in January this year, planning to spend 50 billion yuan ($123 billion USD) by 2011 to provide universal medical service to the country's 1.3 billion people.
The Jinshan facility will provide 3M semi-products, which used to be manufactured by contract suppliers, for making coating materials used in medical and consumer goods as well as automobiles.
3M invested around $102.5 million USD in the two plants, and the company said it will continue to invest to meet future demands.
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