Husqvarna Zenoah, under the Husqvarna Group of Sweden, made an additional investment of $26.2 million in the Changzhou National Hi-Tech District in Jiangsu Province on April 1, with the plan to build a new factory for Zenoah (Changzhou) Machine Co., Ltd.
"We had conducted in-depth investigations into the investment environment in Changzhou before coming here to make investments. The natural environment is satisfactory, geographic position is favorable and people are honest here. What's more important is the government pays great attention to the introduction and development of foreign enterprises," said Bo Andreasson, executive vice president of the Husqvarna Group.
Zenoah of Japan joined the Husqvarna Group officially in April 2007 and Mr. Kazuhiro Aoyagi, president of Husqvarna Zenoah, said that Zenoah (Changzhou) Machine Co. was founded in October 1999 with an original registered capital of $1.3 million and a total investment of $1.8 million in a workshop of 500 square meters that were borrowed from another enterprise and had only five employees at that time. It developed rapidly in the Changzhou Hi-Tech District in the nine years since then and already has more than 180 employees. The company decided to make an additional investment this time to build the new factory into a production base of gardening machinery involving a total investment of $28 million.