SHANGHAI (Reuters) – Boston Scientific Corp will open its first factory in China, the U.S. company said on Monday, citing interest in expanding regional production in supply chains.
Boston Scientific, which makes disease diagnosis and other medical devices primarily in North America and Europe according to its website, said in a statement on its WeChat social media account it would construct the factory to focus on production for China’s market.
CEO and chairperson Michael Mahoney said his firm was grateful for the opportunities the market presented, and was committed to supporting its development.
Boston Scientific has previously engaged in development in China, including production of a prototype ultrasound system.
The new deal was signed with local authorities in Lingang, a vast free trade zone in Shanghai which is already home to factories belonging to the likes of Tesla, Inc .
The Shanghai government actively promotes the zone as a landing base for companies developing semiconductors, electric vehicles and pharmaceuticals.
(Reporting by Andrew Silver in Shanghai; Editing by Lincoln Feast.)