China's Hisense to build industrial park in South Africa - Xinhua |
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Mon, 22 Jan 2007 04:27
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BEIJING (XFN-ASIA) - Hisense, one of China's major white goods manufacturers, will invest 19 mln usd to build Hisense Industrial Park in South Africa, the official Xinhua News Agency reported, citing a company official.The Hisense facilities at the park will have annual capacity of 400,000 color TVs, 300,000 refrigerators and 100,000 washing machines.Hisense set up its first production line in South Africa in 1997.The company plans to start building facilities at the park in 2008 for completion by the end of 2009, Xinhua said, citing Yu Youhai, vice president of Johannesburg-based unit Hisense SA Development Enterprise (Pty) Ltd.As a direct result of the project, Hisense expects to generate sales of 140 mln usd and create 1,100 jobs for South Africa, it said.Hisense SA currently has annual capacity of 200,000 color TVs each. It had sales of 47 mln usd and profit of 1.26 mln in 2006.(1 usd = 7.8 yuan)ivy.cheng@xinhuafinance.com
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