P&G folds Tianjin operations into Guangzhou unit
27 October 2004
Procter & Gamble China said it would close its Tianjin plant and relocate operations to its main base in Guangzhou. P&G, which sells soap, shampoo and cosmetics and faces stiff competition from local brands recently bought out Hutchison Whampoa Ltd's 20% stake in P&G Guangzhou for US$1.85 billion, making the Guangzhou unit a wholly owned P&G company. The company says it anticipates China will eventually be its largest market worldwide, possibly in five years.
