Ye Tao, the President and General Manager of Shanghai Tenry Pharmaceutical, announced on October 30 that the company would take over Boehringer Ingelheim’s factory in St. Petersburg in Virginia with USD 22.50 million, and announced a recruitment plan for 376 persons.
As soon as it was released, the message brought hope to 240 workers who were “sentenced” by BI in August 2013 to losing jobs by the end of 2014, and Terry McAuliffe, Governor of Virginia, also felt excited about the continued existence of this major source of local taxation, “The project will bring about a significant impact on St. Petersburg and its surrounding areas. I am honored to beat California in the talks of ‘Governors and Entrepreneurs’ held in Shanghai, winning this investment chance.” Terry McAuliffe, Governor of Virginia, Maurice Jones, Secretary of Department of Commerce, Martin Briley, President of Economic Development Partnership, and Vince Barnett, Vice President of Communications & Promotions, etc. visited Shanghai Tenry Pharmaceutical Co., Ltd. on July 12 to negotiate the direction of their strategic cooperation.
According to the cooperation agreement, Boehringer Ingelheim will transfer the API factory of about 180 acres at a price of USD 22.50 million and Shanghai Tenry Pharmaceutical Technology Co., Ltd. (UniTao Pharmaceutical) will be the acceptor, which is a subsidiary of Tenry Pharmaceutical.
