Another Fortune 500 firm opens branch in Taicang port area

Chinadaily.com.cn | Updated: December 15, 2017

Henniges (China) Sealing System Company has settled a branch in Taicang port area, and marked the occasion with an opening ceremony held on Dec 12.

Henniges Automotive is a world leading vehicle parts manufacturer and provides world class vehicle sealing and anti-vibration solutions for the global automotive industry.

Headquartered in Michigan in the United States, the Henniges has five research centers and 15 production sites around the world. It was purchased by Aviation Industry Corporation of China, a state-owned group in China, in 2015.

"With a good business climate and complete supporting facilities, Taicang port area is the perfect place to expand our company's market in East China," Zhao Guibin, president of China Aviation and Automotive System Company, a branch of the State-owned group, said at the ceremony.

He also said that $5 million will be invested in production facilities to meet the needs of clients who are mainly manufacturers of complete automobiles, such as Shanghai General Motors, Shanghai Volkswagen, and Geely Automobile.

The company is expected to generate about 300 million yuan ($45.3 million) in two years after starting production and pay taxes of nearly 15 million yuan, according to Zhao.

The head of the Taicang port area affirmed that they will offer better services to the branch company so as to attract similar outstanding companies and enlarge its enterprise cluster of Fortune 500 firms and State-owned and US-funded enterprises.

The port area is now home to 27 projects invested by Fortune 500 enterprises, 22 projects undertaken by State-owned enterprises, and 15 projects owned by US-funded enterprises with a total investment of 29.9 billion yuan, 25.2 billion yuan and 14.58 billion yuan respectively.