Germany's Wurth Group Sets Up New Subsidiary in Changzhou Hi-Tech District A Total Investment of US$45 Million
CHANGZHOU, China, Oct. 24, 2011 /PRNewswire-Asia/ -- Weineng (Changzhou) Chemical Technology Co., Ltd, set up by Germany's Wurth Group with a total investment of US$45 million, held a groundbreaking ceremony in Changzhou National High-Tech District on October 21.
The new company mainly works on the research, trade, development, manufacturing, processing, storage, filling and sale of water-based and solvent-based cleaners, brake fluid, coolants, fuel additives, oil and oil additives, coatings, paints, polishing agents and automotive care products, which are primarily used for the care and maintenance of cars and industrial equipment. With a construction area of 50,000 square meters, the new company is expected to be completed and put into production by October 2012, with annual sales revenue of RMB600 million.
Founded in 1945, The Wurth Group is a world famous provider of assembly and maintenance products. With over 100,000 products, the Group has 420 companies in 84 countries and 60,000 employees on its payroll. It provides high quality products and services to more than 3 million customers across the world. In 2010, the Group generated total sales of over US$10 billion.
Zhu Rui, Vice Mayor of Changzhou said at the groundbreaking ceremony that the settlement of Weineng (Changzhou) Chemical Technology Co., Ltd in Changzhou not only shows that Changzhou National High-Tech District will become the largest chemicals production base of Wurth Group in the Asia Pacific region, but also demonstrates the Group's strategic foresight of "optimism about China and commitment to Changzhou". In addition, it reflected Changzhou National High-Tech District's service philosophy of "facilitating companies' development with outstanding services", which will certainly attract investment and cooperation of more and more multinational companies across the World.
Changzhou Hi-Tech District has attracted many local and overseas investors such as Germany-based Lanxess, Leoni, BAERLOCHERGMBH, otto bock, hoerbiger, Linde Group, Switzerland-based Georg Fischer, Mettler Toledo, US-based Terex, Ashland Chemical, Kohler, Chart, Visteon, Magna Powertrain, V&M, Polynt Group, Kymco Motors, Japan-based Komatsu, Nippon Steel Corp, OKI, Bridgestone, Fujitsu, Fuji Heavy Industry and so on.
SOURCE Changzhou National Hi-Tech District