Noveastern (a trademark of Novares) has opened a new plant in Pinghu as it confirmed its strategy to continue developing in China.
The opening followed a decision two years ago to move manufacturing from Kangqiao (Shanghai) to Pinghu (Zhejiang) in anticipation of the Shanghai government’s new direction for its industrial plan.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The group has invested CNY110m in this project to continue supplying customers including SGM, Ford, Bosch, BHTC and BMW and develop new business.
An agreement was signed on 3 March 2023, between Novares CEO Pierre Boulet and Zhihao Zhuang, who was the chairman of Dushan Port Economic Development Zone, for an 11,683 sq m building to accommodate approximately 250 employees which could be equipped for various processes such as 26 injection machines (including 2K in-mould foil), laser graving, interior painting and various systems for decorated interior parts and mechanisms.
Solar panels are on the 10,500 sq m roof producing energy for the plant.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
