Abbott Laboratories (NYSE:ABT) is planning a $270 million plant in Southwest Ohio that will make adult liquid nutrition products Ensure and Glucerna.
The plant in Tipp City, Ohio is expected to be operational by late next year, with groundbreaking to come this April, according to a statement from Chicago-area Abbott. The plant is expected to employ 240 people.
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With an aging Baby Boomer population in the U.S., Abbott anticipates increased demand for its adult nutritional products, said John Landgraf, executive vice president of global nutrition with the company.
Abbott’s nutrition division is based in Columbus, Ohio. The business generates about $6 billion in annual sales, but that amount is expected to climb to $9 billion in 2015, according to the company.
Abbott plans to break into two publicly traded companies by the end of 2012 by separating its pharmaceutical business from its diagnostics and nutrition lines.
