CHANGZHOU, China, September 5, 2014 /PRNewswire/ — Terex recently decided to top up the investment in its facility in Changzhou National High-tech District by US$10 million. Once the increase in capitalization is completed, Terex (Changzhou) Machinery Co., Ltd. will have a total investment amounting to US$57.0 million and registered capital of US$31.9 million. The company revealed that Terex had achieved rapid growth since establishing a facility in the high-tech district in 2008, having expanded market share and increased sales.
Terex (Changzhou) Machinery Co., Ltd., a solely foreign-invested company, with the investment coming from Terex’s subsidiary, Genie Industries, is mainly engaged in the design and manufacturing of aerial work platforms (AWPs), including mobile individual work platforms, materials handling lifts, automatic straight-arm aerial work platforms and shear-type aerial work platforms. The AWPs are widely used in the construction of shipyards, airports, hotels and factories.
Changzhou National Hi-tech District is located in the Yangtze River Delta, China’s wealthiest region. The administrative committee of the high-tech district focuses on building and maintaining of a development zone with the best services, the most attractive cost-effectiveness ratio, the simplest review and approval process, the best working environment, a well-functioning legal system and a positive investment environment. The district is now home to 1,400 foreign-invested companies, two of which are Global 500 firms, with gross industrial output value reaching 263 billion yuan (approx. US$42.7 billion).