Whealthfields Group to build manufacturing base in Taicang
Brands under Whealthfields Group. [Photo/WeChat account: tcfbgw]
German daily chemicals manufacturer Whealthfields Group will build a production base in Taicang, East China's Jiangsu province, local media reported on July 29.
Whealthfields Group is a global leading enterprise with factories in China, Germany, Japan, South Korea and Thailand. Its famous brands include Walch , SEIKA, and La Mamma.
An aerial view of Taicang Port. [Photo/WeChat account: tcfbgw]
With a first-phase investment worth $300 million, the base to be built in Taicang Port is expected to reach an annual output of 2 billion yuan ($309.6 million) and contribute over 200 million yuan in taxes every year.
In the first half of 2021, Taicang Port registered new foreign investments worth $500 million, up 110 percent year-on-year.