Tostem to expand sales from Shanghai
By Pan Xiaoyi |
April 8, 2010, Thursday
|
Print Edition
Print Edition
TOSTEM Corp, Japan's largest building material producer, plans to invest 5 billion yen (US$53 million) in Chinese mainland over the next five years and will open a show room in Shanghai today - its first on the mainland.
The company's investment is geared toward boosting its annual sales to 10 billion yuan, it said yesterday.
Tostem, a sister company of INAX and American Standard, is banking on its participation as an exhibitor at the Shanghai World Expo as a great opportunity to tap the rapidly growing building materials market in China.
"Shanghai will be our base to expand our business in China and we are expecting fruitful returns from China," said Masahira Oda, board director of the company.
Tostem plans to expand its presence to Beijing this year.
Its plant set up in 2002 in Dalian, Liaoning Province, is one of Tostem's 28 manufacturing bases globally. The plant, which produced products mainly designed for Japanese consumers and exported to Japan, will make products to cater to Chinese customers.
The company's investment is geared toward boosting its annual sales to 10 billion yuan, it said yesterday.
Tostem, a sister company of INAX and American Standard, is banking on its participation as an exhibitor at the Shanghai World Expo as a great opportunity to tap the rapidly growing building materials market in China.
"Shanghai will be our base to expand our business in China and we are expecting fruitful returns from China," said Masahira Oda, board director of the company.
Tostem plans to expand its presence to Beijing this year.
Its plant set up in 2002 in Dalian, Liaoning Province, is one of Tostem's 28 manufacturing bases globally. The plant, which produced products mainly designed for Japanese consumers and exported to Japan, will make products to cater to Chinese customers.
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