CHANGZHOU, China, April 17, 2013 /PRNewswire/ -- On April 12, German industrial giant ThyssenKrupp started construction of its engine facility in Changzhou National Hi-Tech District (CND), Changzhou, Jiangsu, China. The first phase of the project, with an investment of 38 million euros, will produce assembled camshafts for vehicles.
ThyssenKrupp's businesses include iron and steel, automotive technologies, machine manufacturing, engineering design and trade, and was ranked 122nd among the Fortune Global 500 companies in 2012. Last September, the group decided to locate its south China manufacturing base at CND, after a year of investigation and evaluation.
The first phase of ThyssenKrupp Valvetrain China Ltd. has an investment of 38 million euros and is expected to be put into production in April 2014. Once the designed capacity is reached, the first phase will produce 1.2 million camshaft modules a year, generating annual sales of more than 600 million yuan (approx. 75 million Euros). The company owns the patent rights to some of the assembled camshafts. The assembled camshafts will be produced using the company's proprietary low energy-consuming interference assembly technology that makes camshafts lighter in weight as well as differentiated, instead of the traditional manufacturing method of casting and forging, which are high consumers of energy.
CND, with its economic strength, accessible traffic links, established support facilities, abundant human resources and superior investment environment, has attracted an increasing number of international and Chinese companies as investors, and has become one of the regions in the Yangtze River Delta with the fastest economic growth, the highest return of investment and the greatest investment potential. Now it is home to more than 30 Fortune Global 500 companies.
SOURCE Changzhou National Hi-Tech District