Last updated at: (Beijing Time) Tuesday, March 18, 2003
US Disk-drive Giant Sets up Subsidiary in China
Maxtor, the world's largest disk drive manufacturer, Monday began construction of a subsidiary in Suzhou, a city in east China's Jiangsu Province.
The first investment in China of the United States giant, the Maxtor Technology (Suzhou) Co. Ltd. will cost 200 million US dollars to set up and will be operational late next year.
The company will specialize in the production of high-quality disk drives for desk-top computers from a 2.2-million-square-meterplant at the Suzhou Industrial Park. Most of the products will be sold on the Chinese market.
Established in 1982, the California-based company made 3.8 billion US dollars in 2002. It employs 12,500 people worldwide.
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