Representatives of the local Dongcheng Group signed an agreement on Jan 30 for a precision electronics manufacturing plant to be erected in the Hailing Industrial Park – located in the Hailing district of Taizhou city, in East China's Jiangsu province.
The plant will cost 1 billion yuan ($138.93 million) and occupy a site covering 75 mu (5 hectares). The facility will feature imported automation equipment from Fanuc, Computer Numerical Control or CNC equipment, high-precision testing equipment and more.
The primary focus of production will be aluminum-magnesium alloy casings and structural components for industrial motors, consumer electronic terminals and lithium battery modules.
The main customers will include Fortune 500 companies such as Stanley Black & Decker, the century-old German electric tool company Metabo and Sweden-based international home appliance giant Electrolux.
After the plant becomes operational, estimates are it will generate annual sales of 1.5 billion yuan and contribute 25 million yuan per year in tax payments.