Emerson Electrical announced that it will invest an additional 45 million yuan (approx. U.S. $5.4 million) to expand the production capacity of chargers of ASTEC Company, a wholly-owned subsidiary of the U.S. company in Guangzhou, capital of South China's Guangdong Province.
The subsidiary of Emerson is said to be one of the largest mobile phone charger producers in China. After capacity expansion, the annual output value of the company will top 2 billion yuan (approx. $241.6 million).
ASTEC was launched in 1995 and currently has more than 8,000 employees. It mainly produces chargers for cellular phones and portable computers, and has reportedly taken a one-third share of the Chinese mobile phone charger market. (XIC)
to Daily News