CHANGZHOU, China, Dec. 1, 2010 /PRNewswire-Asia/ -- The world's leader in sensors - American company Sensata Technologies - recently signed an agreement with Changzhou National Hi-Tech District in China's Jiangsu province to invest an additional 30 million USD in Sensata Technologies (Changzhou) Co., Ltd. and expand the company's productive area.
Sensata Technologies is an American solely-owned enterprise, with headquarters in Attleboro, Massachusetts and 6,500 employees worldwide. Sensata Technologies is the world's leader in the design and manufacture of sensors and controls, and its products are widely used in household appliances, automobiles, electrical equipment, HVAC equipment, industrial equipment, military defense, and communication and transportation technologies. In March of this year, the group became listed with the NYSE. Presently, the company has two large-scale production and manufacturing factories as well as one business operations center in China, one of which, Sensata Technologies (Changzhou) Co., Ltd., a fully-owned subsidiary of the company, was established by investment in 2004. This company mainly produces special-use sensors and controls, which are utilized in equipment, automobiles, and HVAC products. Since the company's establishment, Sensata Technologies (Changzhou) Co., Ltd. has seen rapid growth in its business. The company had sales of 56 million USD in 2009 and is expected to more than double this amount in 2010.
In order to further develop the China market, Sensata Technologies has decided to invest an additional 30 million USD in registered capital in its Changzhou company, to be used in the expanded production of its sensors and controls. After this additional investment is completed, the company's will have 45 million USD in registered capital. The company's sales are expected to double in 2012, from the current 120 million USD to 240 million USD.
Located in the Yangtze River Delta, Changzhou has become one of China's more livable cities as well as a hot investment destination in recent years, given the significant improvement in the city's environment, architecture and living standards.
Changzhou National Hi-Tech District has attracted many local and overseas investors such as Terex, Ashland Chemical, Kohler, Chart, Visteon, Magna Powertrain, V&M, Linde Group, Disa, Mettler Toledo, George Fisher, Polynt Group, Nippon Steel Corp, Rieter Textile Instrument, Leoni Electronics, Kymco Motors, Komatsu,OKI, Bridgestone, Fujitsu, and Fuji Heavy Industry and so on.
SOURCE Changzhou National Hi-Tech District