Schott plans to invest $1 billion in its pharmaceutical packaging business until 2025.
The German glassmaker said it would build production sites, develop lines and manufacture technology as part of its investment plan around the world.
It cited growing global demand for pharmaceutical packaging, such as vials, syringes, ampoules and cartridges made of Borosilicate glass and polymer as the reason for the investment.
The investment includes the construction of a glass tubing production facility in China and a production facility for syringes and containers in Germany.
Investment in additional tanks in India, development of the capacity of producing lines in Germany, increased syringe production capacity in Switzerland and the capacity augmentation in its US facility will play an essential role in Schott investment in its pharma business segments.
Meanwhile, a strategic partnership with a high tech Canadian firm will allow for lower quality cost for pharmaceutical companies.
Several of the investments will be completed early this year. Other projects such as a new melting tank and syringe greenfield production in India will be ramped up later in 2019.
All other major investments will have an impact over the course of the next five to six years.
“These investments will increase global access to safe medications, while supporting the marketing of new pharmaceutical products,” added Dr. Frank Heinricht, Chairman of the Management Board of Schott.
Pic Schott is expanding its production facility for pharmaceutical packaging in Müllheim. The groundbreaking ceremony for a new plant for polymer syringes is planned for early 2020.