Sampo Group's flagship home-appliance company, Sampo Corp., plans to invest U.S. $20 million in an air-conditioner compressor plant in China, the Commercial Times reports, citing Chen Sheng-tien, Sampo Group's chairman.
Sampo will partner with Haier-CCT Holdings Ltd., one of China's largest home-appliance makers, to build the plant, which will have an initial capacity of 2 million units a year and start operating 2006, the report says.
Capacity may be expanded to 5 million units within 2 to 3 years of the start of production, it says. The firms plan to sign a partnership contract at the end of this year. (Dow Jones)
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