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Wolverine Worldwide exemplifies a sharp shift among American footwear and garment producers away from China toward an emerging manufacturing hot spot: Vietnam. During the past three years, the Rockford, Michigan-based maker of brands such as Keds, Hush Puppies and Saucony, has more than doubled its production in the Southeast Asian nation, taking advantage of the lower labour costs there. Vietnam now constituted nearly 30 per cent of Wolverine’s output, while China’s share had fallen from 90 % to 50 %, company officials said.
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Ranbaxy appeared prepared to meet this challenge, however, and confidently set its sights on boosting its annual sales past $2 billion by 2007 and to more than $5 billion by the beginning of the next decade. International growth remained an essential part of that strategy. The company began negotiations for a major acquisition in Germany at the end of 2004, which was expected to be completed in 2005. The company also launched construction of a new $100 million production facility in Brazil. Meanwhile, Ranbaxy continued to increase its research and development budget, with the goal of generating as much as 40 percent of its revenues from its in-house innovations by the 2010s. Ranbaxy expected to remain India’s drug leader into the new century.
The endeavour at https://www.medpagetoday.com/meetingcoverage/smsna/34511 is to provide value. Value through pioneering work, research & development and quality pharmaceuticals across the globe.Ranbaxy keeps alive this endeavour as it steps into the new millennium, and reaffirms its commitment to the environment, the people and a healthier future.
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