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Cochlear Announces Expansion of Global Capacity with China Manufacturing Facility

13 Jul 2017  |  14:01:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: COCHLEAR TO EXPAND GLOBAL CAPACITY

Cochlear announced plans to expand its global manufacturing capacity with a new facility in China for the manufacture of cochlear implants and sound processors for an estimated A$50m. The Company has entered into an Investment Cooperation Agreement with the Management Committee of the Chengdu Tianfu New Area, exercising the authority of the People's Government of Chengdu City. This agreement facilitates the acquisition of rights to the land in Chengdu for the construction of the manufacturing facility. The finalisation of the process for this acquisition is anticipated within 6 months. This agreement strengthens presence in a fast growing market for the Company and boosts future global manufacturing capacity.

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