Japan's Machine Tool Giant Sets up Company in ChinaA 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. |
| People's Daily Online --- http://english.peopledaily.com.cn/ |