Hospital products manufacturer
set plans to invest $60 million in its McPherson, Kan.-based manufacturing facility. The project is expected to be complete in early 2008.
The construction project is through a joint collaboration with the State of Kansas and the Kansas Bioscience Authority.
The facility will house offices, laboratories and manufacturing site for injectable pharmaceuticals. and generate 100 additional jobs in the facility in the areas of manufacturing and research and development.
The move, Hospira said, will also enable the company to manufacture additional products at the plant in the future, including production being transferred from Hospira's North Chicago facility.
"This project underscores the strategic importance of McPherson to Hospira's overall business objectives," the company said.
On Friday, Hospira slid 8 cents to $46.32.
This story was created through a joint venture between TheStreet.com and IRIS.