Two foreign-funded projects sign agreements to locate in Changzhou National Hi-Tech District with total investment of US$135 million

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CHANGZHOU, China, Nov. 14, 2022 /PRNewswire/ -- The inking of agreements for 53 key projects supported by foreign investment took place recently at an online signing ceremony that was held in conjunction with an online plaque-unveiling event involving all foreign firms that had chosen a location in Jiangsu province as their in-China headquarters or production center and were readying to commence operations. Among the 53 projects, two with a total investment of US$135 million chose Changzhou National Hi-Tech District (CND) as their headquarters, representing new breakthroughs for CND in terms of capturing major projects.

Attleboro, Massachusetts-based Sensata Technologies upped its investment for the third time in CND, adding US$90 million to build a manufacturing and R&D center for its sensing solutions, as well as expand the R&D team and increase investment in product, integrate intelligent functionalities into production lines, and, by doing so, achieve a transformative leap in innovation and development. "From research and development to the supply chain, we now have everything that we need in one place", said Ni Guangshan, vice president of Sensata Technologies and General Manager of Greater China Automotive Division, with high confidence in its future development at CND.

Karlstad, Sweden-based Lesjöfors Group decided to invest US$45 million in Zhongrui (Changzhou) International Industry Innovation Park to build the manufacturing facilities for Lesjofors Spring Technology (Changzhou), doubling to tripling production capacity and accelerating the firm's ability to grow market share for its stamping parts and springs in the Chinese market. Once the new facility is put into operation, annual output value is expected to reach 300 million yuan (approx. US$42 million). Xu Lida, Chief Financial Officer of the new company said that the group attaches great importance to the Chinese market. After the completion of the new project, a production facility that Lesjöfors already has in Shanghai will be incorporated into the Changzhou operation, further facilitating large-scale production.

At the event, the regional headquarters of CR Chem-Mat and Italmatch Investment (Jiangsu) and the production/R&D facilities of Chart Cryogenic Engineering Systems(Changzhou) and Baerlocher New Material Technology , all four having located in CND, unveiled their plaques during the ceremony, accounting for 57% of all foreign-invested firms in Changzhou having done so at the event.

SOURCE Changzhou National Hi-Tech District