German group invests in Lin-gang to meet growing demand
German manufacturer of metering pumps and metering technology ProMinent GmbH started construction on July 28 of its new headquarters and research and development base in the Lin-gang Special Area in East China's Shanghai city.
The groundbreaking ceremony takes place for German multinational ProMinent's Shanghai headquarters and research and development base in the Lin-gang Special Area. [Photo/WeChat ID: lgqyfwj]
The 47-million-euros ($51.54 million) facility will be the company's largest single investment in China and is expected to be completed by the end of 2024.
ProMinent aims to leverage Lin-gang's business environment and innovative system to establish its global supply chain management center, manufacturing center and R&D center.
The facility will account for 15 percent of ProMinent's global production capacity and production is scheduled to begin in 2028.
The company entered the Chinese market in 1994 and has achieved an average annual growth rate of around 15 percent over the past five years.
It says the Lin-gang base will allow it to meet the growing demand for high-end industry products in the Chinese market, such as lithium-ion batteries.
ProMinent's Lin-gang complex will also become an important node in its global supply chain, with spare capacity to radiate its products out to the entire Asia-Pacific region and the global market.
"The decision to invest in Lin-gang was based on the area's favorable business environment, its proximity to major transportation hubs and the support provided by the local authorities," said Duan Yingze, chairman of ProMinent China.
Address No 200 Shengang Avenue, Pudong New Area, Shanghai, China
Zip Code 201306