Trade Resources Company News Stevanato Group Pay Particular Attention to China

Stevanato Group Pay Particular Attention to China

19 November 2012 has seen the start of work for a new production plant in Zhangjiagang, China for the pharmaceutical packaging leader Stevanato Group, based in Piombino Dese, Padua (Italy). The multinational company, which expects to end 2012 with consolidated revenue of 276 million USD, 1,500 employees and an export share of 90%, currently has clients in 150 countries throughout the world and has excellent business relations with the Chinese market. The opening of the new facility strongly emphasizes the Far East area, with particular attention to China, a booming market in the pharmaceutical sector.

The groundbreaking ceremony took place in the presence of local Chinese authorities, the Italian consul, the ICE (Institute of Foreign Commerce), and Cav. Sergio Stevanato, President of Stevanato Group, who states: "We are sure that our decision can contribute to the development of this region, thanks to our supply of technical and technological skills in working with tubular glass containers for the pharmaceutical industry, in which we are among the recognized world leaders, and in terms of employment growth in the coming years."

The project sees the investment of 51 million USD and the plant, which is to be constructed on a plot of 30,000 square meters in Zhangjiagang, in Jiangsu Province (Shanghai area), a known centre for economic and technological development, is expected to see the start of production by the end of 2013. The new facility will offer the highest standards and innovative technology designed to meet the needs of all local and multinational pharmaceutical companies looking to supply the Chinese and Asian markets; it will be staffed by 240 qualified personnel, who will receive training at the Group’s other facilities.

The decision to open a new manufacturing facility in this area is one of the first strategic steps undertaken by the Group in the implementation of its industrial plan, recently approved by the management for the years 2013-2016. This decision is also in line with the strategy of full internationalization that the Group has been following for several years, with factories and sales offices in Europe, America and Asia.

In summary, the Group´s overall business plan, which anticipates investment of 181 million USD over 4 years, aims to exceed the levels of sustained organic growth seen in the previous four years and is based on two points:

1. Geographic expansion on a global scale through the construction of production platforms, developed in collaboration with the engineering division of the Group, in countries in which the market is enjoying substantial and consistent growth. This is in order to increase its market share in line with what has previously been achieved, bringing the average annual growth in consolidated sales to 14.7%.

2. Technological innovation and focus on products with high added value concentrating on its specialization in primary packaging for injectables. Most of the resources will be devoted to the development of new products (drug delivery devices) that reduce the impact of pharmaceuticals on the lifestyle of patients by simplifying the administration process. This is a ??business sector characterized by a worldwide trend of double-digit growth.

By the end of 2016, over 77 million USD will have been invested, from the total of 181 million USD, in the line of EZ-fillTM products, the range of glass containers for pharmaceutical use (syringes, bottles and cartridges) that are supplied entirely sterile and ready-to-fill. This highlights the continuing importance of the Piombino Dese, Italy factory, which is set to become a centre of excellence for the production and research and development of this product range, given the large proportion of investment planned in this area.

The 181 million USD investment plan (2013-2016) will allow the firm to optimize its in-house processes and structures, streamlining the production set-up worldwide, and will enable the updating of technology and processes. Once again it will be the in-house engineering division that will set the Group apart from its rivals. Particular attention will be paid to technological innovation, which has always played a key role in keeping the Stevanato Group a step ahead of its competitors.  New technology will be introduced which, starting with its glass containers, will enable the company to respond to two fundamental needs:  helping its pharmaceutical company clients to refresh their product ranges and improving the quality of life of patients.

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Stevanato Group Lays Foundations in China
Topics: Construction