German Bauer Compressors Co Ltd secures a deal with Taicang, a county-level city in East China's Jiangsu province on Sept 29. [Photo/WeChat account: TCinvest] 

German Bauer Compressors Co Ltd signed an agreement with Taicang, a county-level city in East China's Jiangsu province, to build a facility for the research and production of high-pressure compressors on Sept 29. 

The $10 million facility is expected to produce 10,000 compressors a year and generate an annual output value of 200 million yuan ($28.12 million), with annual profits and taxes reaching 15 million yuan, according to authorities. 

Founded in 1946, Bauer provides customers with a broad range of compressor system solutions for the aerospace industry, petroleum exploration, civil engineering and ocean expeditions. 

Based in Munich, Bauer has 21 subsidiary companies and 360 sales and service centers across the world that generated combined sales of $800 million in 2021. 

Bauer established a branch in Shanghai in 2008. The Shanghai branch presently owns 12 invention patents. 

The facility will play a vital role in guaranteeing the stability of the supply chain of the Shanghai branch and significantly reduce the transportation time and costs of materials and human resources, said a representative of Bauer. 

He added that Bauer was able to complete the registration of its new facility in Taicang on the same day that agreement was signed largely due to the city's special business policies.