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March 26, 2003

CHINA: Textron announces new fasteners plant

Textron Fastening Systems (TFS), a business unit of Textron Inc, will open its first Chinese manufacturing factory and customer application centre at the end of this month.

By bcusack

Textron Fastening Systems (TFS), a business unit of Textron Inc, will open its first Chinese manufacturing factory and customer application centre at the end of this month. The new 3,900 square-metre facility is located in Wuxi, about 80 miles east of Shanghai. This facility will make fasteners for the country’s booming electronics, computer and auto industries, creating 55 jobs. It will also provide design, engineering, assembly technology and logistics management services to local customers.

“China will be one of our principal growth markets for the balance of the decade and beyond,” said Jake Hirsch, chairman, president and CEO of TFS in a statement.

“China is the world’s leading producer of electronic devices and components, and is on pace to becoming number one in computers and telecommunications. The auto industry is expanding at breakneck pace, growing 15% annually, with new car and truck sales reaching 3.2 million units last year.”

The new plant will produce 60 to 80 million blind and threaded fasteners per month. Randy Teo, Asia Pacific managing director for TFS, said future expansion plans will add lines for fastening systems for the Chinese auto industry. TFS employs 11,000 workers worldwide producing engineered fasteners to customers in 75 countries. Its parent, Textron Inc, has two other auto parts plants in China.

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