Macau, China, 9 Nov – Drugs manufacturer Hovione will move most of its production “from Europe to China” in the medium term, CEO Guy Villax said in Macau.
Villax gave to timetable for his company’s production switch to China, but the 50-year-old firm will move its manufacturing side to China in the medium term, he added.
The company, however, will keep its plants in Portugal and Ireland as strong growth in the sector in China is expected in the next seven to 10 years. Hovione has already bought raw materials from China where “factories are learning to produce”. In the last two years these plants have also begun production and “success has been extraordinary,” he noted.
Hovione’s Macau factory has boosted its sales notably and the company has developed a project that has boosted sales from US$ 4 million to around US$ 25 million this year.
The company is geared towards Chinese markets and is creating a “welcome back” program in Macau to recruit technicians for Lisbon.
Created in 1959, Hovione has manufacturing units in Portugal, Ireland, Macau and China’s Zhejiang province, with offices in Hong Kong and Belgium and a research lab in New Jersey. The firm’s presence in Macau gives it great opportunities to expand in China, noted its CEO who has been based in the former Portuguese territory for 25 years.
Hovione posted sales of US$ 125 million in 2008 and forecasts turnover of US$ 143 million for this year. (macauhub)