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Upon the development strategy, its factories in Beijing, Shanghai, Guangzhou and Suzhou will all expand their own production capacity. The Baxter China General Manager Paul Vibert explained that the expansion was ascribed to China's huge demand for the high-quality medical instrument.
The further investment suggests how important the Chinese market is to the regional expansion and business growth of Baxter, said Robert Parkinson, CEO of the US company. Currently, over 60% of Baxter's revenue comes from the businesses outside the US, and the global expansion is of great importance to its future growth, the CEO added.
As a top medical instrument producer worldwide, Baxter gained sales of USD 12.3 billion in the fiscal year of 2008, up 10% from a year earlier. But only USD 200 million was contributed by its operation in China.
Source: dycj.ynet.com (May 19, 2009)
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