19 March 2021 | News
The company plans to secure additional manufacturing facilities both locally and overseas
Image credit- prnewswire
Samsung Biologics has announced a strong year in 2020 as it reported 1 trillion won in target sales within just a decade at its 10th Annual General Meeting (AGM).
The company plans to secure additional manufacturing facilities both locally and overseas to accommodate the evolving needs of global clients from multiple locations. In addition to its San Francisco CDO R&D Center, Samsung Biologics is currently in discussion to construct Bio Campus 2 in Songdo to further enhance its open innovation as a new growth engine for the next decade.
With Plants 1,2, and 3 showing steady business performance over the past decade, Plant 4, the newest addition to the company, is expected to begin manufacturing activities in early 2023, catapulting Samsung Biologics upon completion to hold the world's largest manufacturing capacity at a single site with multi-scale capabilities.
"Despite the global uncertainties with the ongoing pandemic, Samsung Biologics demonstrated outstanding operational excellence and business agility even during such extraordinary circumstances," said John Rim, CEO of Samsung Biologics in an address to the shareholders. "As we mark the 10th-year anniversary of Samsung Biologics this year, we set forth our growth plan for the next decade to become a fully-integrated end-to-end service provider," Rim added.