Representatives of Imerys and the Zhangjiagang Economic and Technological Development Zone sign a cooperation agreement. [Photo/zjgonline.com.cn]
French multinational company Imerys signed an agreement on July 18 to launch a new project in the Zhangjiagang Economic and Technological Development Zone in Zhangjiagang, Suzhou, East China's Jiangsu province.
The project, which has about $15 million in registered capital, will introduce intelligent equipment that can manufacture high-end high-temperature resistant materials for industries such as auto making and steel. The annual sales revenue of the project is expected to reach 200 million yuan ($29.59 million).
Yang Feng, vice-president of the High Temperature Solutions division of Imerys China, said at the signing ceremony that the Zhangjiagang plant will be the only comprehensive production base of the division in China and help the company increase its market share in the Asia-Pacific region. She added that the investment reflects how important the Chinese market is to the company.
The Zhangjiagang Economic and Technological Development Zone has a first-class business environment, thriving industries and huge market potential, and will continue to attract high-end projects to promote industrial upgrading and high-quality development, local media outlets reported.
Imerys is headquartered in Paris and has production bases in more than 40 countries. Its products are widely used in sectors including biomedicine, new energy vehicles and fuel cells. The sales revenue of the company in 2021 stood at 4.4 billion euros ($4.49 billion).