SINGAPORE, July 7 Pfizer Inc. (NYSE: PFE) today announced a $100 million (U.S.) investment into the expansion of its Singapore Nutrition Plant, helping it continue to set the standard for the manufacture of high-quality, safe and environmentally sustainable nutritional products for infants and children. This expansion, which brings the total investment in the plant to $372 million (U.S.), makes it one of the largest nutritional plants worldwide.
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The expansion of the plant to 91,963 square meters (the equivalent of 17 football fields) has boosted the plant's production capacity by 50 percent and increased the plant's ability to supply nutrition products to Singapore and key markets such as China, Indonesia, Malaysia, Pakistan, Sri Lanka, Thailand, Taiwan, Hong Kong and Vietnam.
"The expansion of our Singapore Nutrition Plant is one example of Pfizer's commitment to securing a healthy and sustainable future for our children," said Jeffrey B. Kindler, chairman and chief executive officer of Pfizer. "Our most valuable resources are our children and our environment, and Pfizer seeks to protect both by ensuring that our products for infants and children are manufactured to the most rigorous of safety and quality standards, with minimal environmental impact."
"Infant Formula is one of the most stringently regulated consumer products in the world," said Natale Ricciardi, senior vice president of Pfizer and president of Pfizer Global Manufacturing. "With about 120 colleagues working in Quality Operations alone, the plant maintains the highest quality and safety standards throughout every stage of the production process. Quality and compliance are critically important aspects of the Pfizer Global Manufacturing Culture."
As part of the plant expansion, Pfizer has added over 100 new positions in the past year, bringing its staff strength to 587 people in total.
The plant is part of Pfizer Global Manufacturing's Nutrition Operating Unit, a global Nutrition manufacturing network committed to setting the global quality standard for nutrition products used by infants and children. The network also operates manufacturing facilities in Ireland, China, Mexico and the Philippines.
The Pfizer Singapore Nutritional Plant achieves sustainability through the use of advanced technology aimed at maximizing energy efficiency and reducing waste. Over 50 percent of water used by the plant for maintenance purposes is recycled.
"Pfizer's expansion today marks another significant milestone in the long-standing Pfizer-Singapore partnership. Today's expansion also attests to Pfizer's continued confidence in Singapore as a location for global manufacturing excellence and business hub in the heart of dynamic Asia," said Mr. Lim Hng Kiang, minister for Trade & Industry, Singapore.
Formerly a Wyeth operation, the plant was integrated into Pfizer Singapore following Pfizer's acquisition of Wyeth in October 2009. The expansion was completed in June 2010.
"Today's announcement demonstrates Pfizer's commitment to health and well-being at all ages," said Erica Mann, president and general manager, Pfizer Nutrition. "With the expansion of the state-of-the-art plant, we believe the company is well positioned to broaden our Nutrition portfolio and better serve families across Asia."
Pfizer Inc: Working Together for a Healthier World(TM)
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world's best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world's leading biopharmaceutical company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com.
Pfizer was incorporated in Singapore in June 1964. We have over 1,200 employees, with more than 10 groups operating in Singapore.
PFIZER DISCLOSURE NOTICE: The information contained in this release is as of July 7, 2010. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
This release contains forward-looking information about the potential benefits of the expansion of the Singapore Nutrition Plant, that involves substantial risks and uncertainties. A description of risks and uncertainties can be found in Pfizer's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and in its reports on Form 10-Q and Form 8-K.
SOURCE Pfizer Inc.