Konica Minolta Group to Set up Company in Shanghai24 January 2005
To strengthen its marketing system in China, Konica Minolta Group intends to set up its solely-funded investment company with a registered capital of US$35 million in Shanghai.
The planned investment company will establish a production branch company, Konica Minolta Business Science and Technology (Wuxi) Company in Wuxi City, east China's Jiangsu Province.
The company in Wuxi will have a registered capital of US$35 million.
The company in Wuxi will mainly produce digital compound machines, laser printers and other IT products and equipment.
The production scale of the company is expected to 10,000 sets in 2005, 270,000 sets in 2006 and 500,000 sets in 2007.
Statistics show that since the merging of Konica and Minolta in August 2003, Konica Minolta Group achieved a profit of 73.2 billion yen (US$711.9 million) in 2003.
It is predicted that the group's sales volume in China will reach up to 100 billion yen in 2008.
Source: Asia Pulse via Yahoo
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