Baxter Board Approves $30M China Investment

Baxter International's shareholders saw a 53% total return on investment in 1995, company chairman and chief executive Vernon Loucks told the annual meeting, adding that this is significantly higher than both the S&P's 500 and the Dow Jones Industrial Average.

Ahead of the shareholders' meeting, Baxter's board approved up to $30 million capital expenditures for two production facilities in China (one in Shanghai and one in Suzhou). When completed, the plants will fill and sterilize intravenous solutions and produce flexible, plastic IV bags.