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CLASS

Zoppas Industries to open a new plant in Zhejiang

April 09, 2021


Abstract : Zoppas Industries is expanding its business in China and will open a new plant in Zhejiang Province.

MILAN, April 7 (Class Editori) -- Zoppas Industries is expanding its business in China and will open a new plant in Zhejiang, near Jiaxing, the third main industrial hub of the province.

The new plant covers a 5,000-square-meter area and required a total investment of 5 million U.S. dollars. It is part of the strategic expansion needed to cope with the increasingly high number of orders Zoppas Industries received from the Chinese and Asian-Pacific markets.

The company specialized in design, production and sale of resistors and heating systems destined to industrial and private appliances, already has a production plant in Hangzhou which was created twenty years ago and has been expanded till reaching a 54,000-square-meter width. This is a very successful Italian industrial investment, which currently employs about 1,800 people and has reached a turnover of about 1 billion yuan, around 129 million euros.

The area of Jiaxing, the strengths of which include textile, chemical, car components and light industries, relies on various platforms for attracting foreign investment, as the so-called Jiaxing Economic and Technological Development Zone (JXEDZ), the industrial hub of national relevance that covers more than 110 square kilometers, hosts 160 companies from over 40 countries, and ranks fifth nationally for the use of foreign investment. In addition, Jiaxing is home to about 2,000 private Chinese companies that already have relations with Italy.

(Source:Class Editori)

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Keyword: Italian industrial investment

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