Welding equipment producer opens new firm in E. China
(Xinhua)
Updated: 2006-07-07 16:43
ESAB, the world's biggest producer of welding equipment, has invested 30
million U.S. dollars in a second plant in China, the world's largest welding
products market.
The new plant, in the port city of Zhangjiagang,
eastern Jiangsu Province, will provide 170 jobs for local people and produce
30,000 tons of solid welding wire and 10,000 tons of flux-cored wire, said Jon
Templeman, ESAB's chief executive officer said in Shanghai.
ESAB Welding
Products (Jiangsu) Co., Ltd. is the second Chinese branch of the London-based
manufacturer, which established a welding and cutting products company in
Shanghai last October.
China is the world's largest welding products
market, with an annual consumption accounting for a fifth of the world total,
and is growing by five percent every year, according to an ESAB report.
ESAB's sales in China reached 14.9 million pounds in 2005, a
year-on-year rise of 28.4 percent and it planned to open five more plants in
China in next three to four years to meet market demand, said Templeman.
Founded in Gothenburg, Sweden, in 1904 and now a major part of the
British Charter Public Limited Company, ESAB employs more than 6,500 people
worldwide. It reported global sales of 720 million pounds in
2005.
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