The city of Wuxi, Jiangsu province, announced on Nov 4 that its New District is getting a compressor R&D base project from Atlas Copco, a world-leading provider of productivity solutions serving customers with innovative industrial products. Atlas Copco has three subsidiaries in the district.
It is the third high-end manufacturing foreign capital project that Wuxi has won this year, adding to a polarized film project worth $340 million from Samsung SDI and a semiconductor project worth $300 million from Infineon Technologies AG.
Li Xiaomin, the Party chief of Wuxi, who attended the signing ceremony, praised Atlas Copco's support for Wuxi's high-end equipment manufacturing industry development in recent years. He pledged to provide continuous support and create a sound industrial environment for further expansion of Atlas Copco investments in the city.
The new subsidiary will facilitate Atlas Copco's expansion in China, said Liselotte Duthu, president of Atlas Copco (China) Investment Co. Ltd., adding that Atlas Copco would bring Wuxi more investment and leading technologies.
Atlas Copco opened its first Wuxi branch Atlas Copco (Wuxi) Compressor Co. Ltd., in Wuxi New District in 1994, producing innovative compressors. The new project will mainly focus on compressor R&D.
