, March 28, 2013 /PRNewswire/ -- The groundbreaking ceremony for ME Elecmetal (China) Co., Ltd., the first
-invested project in
, was recently held in Changzhou National Hi-Tech District. The new company will produce various high-end wear-resistant parts for crushing and grinding equipment used in mining.
's Ambassador to
China Luis Schmidt Montes
attended the ceremony.
Located in Changzhou Binjiang Economic Development Zone and with a total investment of
, ME Elecmetal (China) is a specialized manufacturer of wear resistant parts for mining equipment and ME Elecmetal's first wholly-owned subsidiary in
. The project is expected to be completed and put into operation at the end of this year with a designed annual capacity of 30,000 tons and expected annual sales of
550 million yuan
ME Elecmetal is a multinational group owned by
's well-known Claro Group, with four main businesses including brewing, metallurgy, packaging and media. The company's global sales reached
is the first country in
to establish diplomatic relations with China and also the first in the region that concluded bilateral negotiations with China on the latter's WTO accession.
A spokesperson for ME Elecmetal said that
is a beautiful and friendly city whose government boasts integrity and high efficiency. With full support facilities for a variety of industries, superior location as well as great weather and geological conditions, the city has been taking the lead in the country in terms of vocational education. Thanks to a good investment environment, Changzhou National Hi-Tech District, which houses a comprehensive range of service facilities, including a national top-ranked open port, an export processing zone and a bonded logistics park, has attracted over 1,400 multinational companies with combined foreign direct investment nearing