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February 6 |
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| MANULI RUBBER INDUSTRIES: the new hydraulic hose plant in Suzhou, China is fully operational. Total investment will be around 40 million Euros. |
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| Manuli Hydraulics Suzhou new plant |
Mr. Dardanio Manuli - MRI's President and Chief Executive Officer
Mr. Mario Manuli - MRI's Managing Director
Mr. Zhou Wei Qiang - Deputy Mayor of Suzhou
during the ribbon cutting ceremony
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Manuli Rubber Industries sets up an ultra modern facility to supply the growing Asian and American markets.
In November 2005, Manuli Rubber Industries (MRI) inaugurated its new production facilities in Suzhou, a city 100 km from Shanghai, in China. The deputy mayor of Suzhou, Mr. Zhou Wei Qiang and the Italian Consul, Silvia Costantini, attended the ceremony.
The plant, which started its production activity in the middle of 2005, manufactures flexible hoses for high pressure hydraulic applications.
The overall cost of the plant will be approximately 40 million Euros, of which 20 million have already been disbursed.
Manuli Rubber Industries has been operating in China since 1997, the year in which the company set up a small assembly plant with about thirty employees in Shanghai.
The positive experience with the first plant in Shanghai led MRI to increase its investments in that area of China, where excellent infrastructures and the absence of problems of a bureaucratic nature facilitated the start up of the technological business developed by MRI.
This new investment arises from the need to expand production for the Asian and American markets, which today account for approximately 20% of MRI's turnover and which are expected to increase rapidly over the coming years. The plant's size and production capacity will double during the first half of 2006.
"It is not a question of delocalisation," comments Dardanio Manuli, MRI's President and Chief Executive Officer, "but a strategy designed to increase business on the Asian and American markets, which are still relatively new for MRI but will be increasingly important for the future development of the group." "The skills of Chinese personnel, " continues Dardanio Manuli, "together with an accurate training programme is contributing to the high quality output in line with the standards of Manuli Rubber Industries' products".
"Thanks also to the start-up of the new plant," Dardanio Manuli concludes, "we expect to close 2005 with a turnover exceeding 240 million Euros against almost 220 achieved in 2004."
Manuli Rubber Industries (MRI) is a multinational group with a global organisation focused on the design, manufacture and distribution of fluid conveying rubber/metal components and systems for high pressure hydraulics and oil & marine applications.
In 2005 MRI celebrates 70 years of business.
Milan, 6 February 2006
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