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Local companies look to expand overseas
By Staff Reporters |
November 29, 2010, Monday
|
Print Edition
Print Edition
JIADING District's overseas investment in the first 10 months of this year soared 32 percent from a year earlier to US$13.92 million.
Huarong Group's new production center in Iran will be put into use next month. It will be a key component in its overseas expansion.
Huarong first entered the Iranian market in 2003 and set up an assembly plant there in 2005. The group has become one of the main suppliers to Iran's oil and gas companies, according to Xie Zijun, the foreign trade manager of the company.
Once the new facility is up and running, the annual production value of the company in Iran is estimated to reach US$5 million.
Shanghai Apple Spice Planting Co is also expanding abroad. It has a US branch for research and development and for sales. Operations there have increased sales in North America by 50 percent. The company sources its raw materials in the US, greatly reducing its production costs.
Shanghai Zhongneng Develop-ment Co has sent a group of people working in Sudan for a long time, supplying equipment for that country's transmission and distribution networks. They are quite knowledgeable for what they can do there. As its first step, the company is going to invest US$1.5 million to build an agriculture base to plant cotton. Later it will set up a factory to produce transmission equipment.
Services companies such as software developers and data centers are also seeking opportunities abroad. IT firm China Net Center Co has set up a new company in Hong Kong.
Huarong Group's new production center in Iran will be put into use next month. It will be a key component in its overseas expansion.
Huarong first entered the Iranian market in 2003 and set up an assembly plant there in 2005. The group has become one of the main suppliers to Iran's oil and gas companies, according to Xie Zijun, the foreign trade manager of the company.
Once the new facility is up and running, the annual production value of the company in Iran is estimated to reach US$5 million.
Shanghai Apple Spice Planting Co is also expanding abroad. It has a US branch for research and development and for sales. Operations there have increased sales in North America by 50 percent. The company sources its raw materials in the US, greatly reducing its production costs.
Shanghai Zhongneng Develop-ment Co has sent a group of people working in Sudan for a long time, supplying equipment for that country's transmission and distribution networks. They are quite knowledgeable for what they can do there. As its first step, the company is going to invest US$1.5 million to build an agriculture base to plant cotton. Later it will set up a factory to produce transmission equipment.
Services companies such as software developers and data centers are also seeking opportunities abroad. IT firm China Net Center Co has set up a new company in Hong Kong.
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