business

German pump giant to build plant in east China city

NANJING, Dec. 16 (Xinhua) — The Wilo Group, one of the world’s leading providers of pumps and pump systems, has signed an agreement to build a plant in the eastern Chinese city of Changzhou.

Top executives of the German company signed the agreement with officials from Changzhou’s high-tech zone at a ceremony held online on Tuesday.

With a total investment of 100 million U.S. dollars, the plant will incorporate multiple functions including R&D, manufacturing and distribution, said Lyman Tu, managing director of Wilo China Ltd.

The plant is expected to produce products with an annual sales volume of more than 1 billion yuan (about 153 million U.S. dollars), said Tu.

Changzhou, a manufacturing hub in the Yangtze River Delta region, has attracted over 200 German companies to set up plants in the city.

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