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03-09-2007
Brussels-based
Westinghouse Air Brake Co (WABCO) has more than
doubled its investment in its Qingdao factory
to meet projected demand for automotive parts,
mainly for heavy-duty vehicles.
WABCO
has invested US$19 million to expand its manufacturing
facilities in Shandong Province's Qingdao, said
Liu Liang, its Asia-Pacific president. The Qingdao
factory was established in 2004 with an initial
investment of $16 million. The company entered
the China market in 1996 with a joint venture
in Jinan, also in Shandong.
"China
is one of our key engines for global expansion,
and we are speeding up our efforts to follow
the Chinese market's fast development,"
said Liu.
WABCO's
sales in China have maintained an annual average
growth of 50 percent over the past few years,
while its growth rate in global markets was
about 8 percent a year. For the Asia-Pacific
region, sales grew at an average 12 percent.
WABCO
is a global manufacturer of electronic braking
systems, computerized stabilizers, suspension
and transmission control systems for commercial
vehicles.
Editor:Ida.Zhang
from Chinabuses.com
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