SAF-Holland, a global manufacturer of heavy duty commercial vehicle components, plans to spend around US$100m on a new manufacturing facility in Yangzhou city in China's eastern Jiangsu province, according to local reports citing city government officials.
The present company, SAF-Holland, headquartered in Luxembourg, is the result of the merger of Europe's SAF and Holland of the US back in 2006.
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The group, which controls the SAF, Holland and Neway brands, generated a turnover of over EUR1bn in 2016 with 3,400 employees across 28 locations worldwide.
The new Yangzhou plant, comprising a 46,000 sq m workshop a 20,000 sq m warehouse, will produce axles, suspension systems and chassis parts for trucks and trailers.
It will be SAF-Holland's largest manufacturing facility worldwide and is projected to generate annual revenues of CNY600m (US$95m) from domestic and overseas customers, according to the business plan.
Construction of the plant is scheduled to be completed by the end of 2018, with operations starting in 2019.
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