Subsidiaries of two German companies, Betek GmbH & Co KG and Bilstein & Siekermann GmbH held opening ceremonies on June 24 in Taicang, Jiangsu province, Tcinvest.gov.cn reported.

Headquartered in the state of Baden-Wuerttemberg, Germany, Betek is one of the foremost global manufacturers of wear-resistant parts incorporating tungsten carbide. The company's Taicang operation has a total investment of 39.9 million yuan ($6 million) with a workshop area of 3,800 square meters.

Bilstein & Siekermann is a world leader in the manufacture of locking screws and lathed and cold extruded parts. The investment of its 3500-sq-m Taicang operation is $3.8 million.

Both Betek and Bilstein & Siekermann are companies of the SIMON Group, which has belonged to the listed Indus-Holding AG since 1992.

A director of Indus said that the group has strong confidence in the Chinese market and will increase investment in Taicang in the next three or four years.