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Japan's Machine Tool Giant Sets up Company in China
A subsidiary of Japan's biggest machine tool maker, Okuma, went into operation Thursday in the Pudong New District, Shanghai.
The subsidiary is a wholly owned firm by Okuma, a major supplier of machine tools of China with an annual sales worth 400 million yuan (48 million US dollars) in the country.
A senior official with the company said the high-standard machine tool market in China will continue to grow as the country improves the overall quality of its manufacturing sector.
With a registered capital of 4 million yuan, the new company is mainly responsible for product service before and after purchase by China and its Hong Kong Special Administrative Region.
Okuma is 100 year-old company with a global annual sales of one billion U.S. dollars.
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