Elite Industrial Group Division builds factory in China
Oct 05, 2004
Giant Wireless Technology Limited has announced that its wholly owned subsidiary, Popular Industries Limited is setting up a wholly-owned subsidiary, Giant Fuyong (Shenzhen) Ltd, to manage its new factory located at Fuyong, Shenzhen, China. The authorized share capital of Giant Fuyong (Shenzhen) Ltd is US$3 Million. The new factory is in close proximity to the Group's main factory at Nantou, Shenzhen. With the set up of this new factory, the Group will have access to skilled labor, lower work force costs and lower transportation costs. The Group will invest about HK$25 million in the new facility, which will have a built-up area of approximately 19,000 square meters. It intends to employ 2000 staff for the new factory by end of 2004. Operations are expected to commence in early February 2004. The set up of the new factory is in line with the Group's intention to expand its production capacity to cater to the expected increase in orders for FRS and new products. For more information, visit www.eliteusa.org
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