Italian pneumatic tool manufacturer Univer Group signed a 300-million-yuan ($42.22 million) agreement on Nov 18 to establish its China headquarters in Taicang, a county-level city of Suzhou, East China's Jiangsu province.

The project focuses on the research, development, and production of pneumatic components and clamping cylinders, and is expected to generate over 500 million yuan in annual output.

Cooperation with Germany is a major feature of Taicang's opening-up to the world, and the settlement of the Univer's China headquarters will further assist the city in expanding multi-field cooperation across Europe.

Liu Long, general manager of Univer China, stated that the company will extensively engage in exchanges and collaborations with local enterprises in an effort to jointly promote the growth of relevant industries.

Founded in 1971 and headquartered in Milan, Univer is one of Italy's main producers of industrial automation equipment. Its products are widely used in fields such as automobiles, engineering machinery, new energy, and medical devices. With over 150 patents, it ranks among the top three global manufacturers of pneumatic tools.

An aerial view of Taicang. [Photo/VCG]