Xinhua Finance Montevideo, April 30 (Wang Zhongyi) ExCell Biotechnology Co., Ltd. (ExCell Bio) launched a new factory, named ARTICA BIOTECH S.A., in Uruguay on April 28. The inauguration ceremony was held in the Zonamerica Free Trade Zone in the northeastern suburbs of Montevideo, Uruguay, where the factory is located. The ceremony was attended by Francisco Bustillo, Minister of Foreign Relations, Uruguay, Fernando Mattos, Minister for Livestock, Agriculture, and Fisheries, Uruguay, Álvaro Delgado, the Secretary-general of the Presidency of Uruguay, and Wang Gang, Chinese Ambassador to Uruguay.

According to Chen Xu, Chairman and President of ExCell Bio, about 10 million dollars were invested in building the new factory. Primarily designed to produce bovine serum, the factory features state-of-the-art production lines and will serve as the company's manufacturing center in Latin America, delivering products to different parts of the world.

In his speech, Delgado stated that the investment of Chinese private enterprises in Uruguay is a testament to the fact that Uruguay's investment climate has become increasingly popular among foreign companies. He added that Uruguay sees China as one of its most important economic and trade partners and looks forward to further deepening its economic and trade relations with China.

Wang Gang stated in his speech that China and Uruguay have established diplomatic relations for 35 years. Both sides agree to act upon the principles of mutual respect, equality and shared benefit. The deepened friendship and partnership between the two countries have produced quite a number of tangible results, bringing great benefits to the two peoples.

Uruguay has a business-friendly environment and keeps an open mind about foreign investment. The Chinese government encourages and supports Chinese enterprises to invest and prosper in Uruguay. The launch of this new ExCell Bio factory in Uruguay marks another major milestone in the cooperation between enterprises of the two countries. He said that he is delighted to see more Chinese companies settling in Uruguay, making their contribution to even stronger mutually beneficial trade ties between the two countries.

ExCell Biotechnology Co., Ltd. was founded in 2013. It is a technology-driven company focused on building upstream tools for biopharmaceuticals. The company established its first factory in Uruguay in 2017. Its serum product line now ranks first in the market segment in China.