German engineering group SMS Meer, a supplier of technology and equipment for the steel industry, is expanding its Shanghai plant to tackle the growing demand of Chinese customers who are on a path of renewal.
The creator of machines for forging and rolling section mills is confident in the prospects for development in China, despite the current uncertainty in the global economy. SMS Meer CEO Joachim Schonbeck announced the opening of the second phase of his plant in the suburbs of Minhang County.
The move will enable SMS Meer to nearly double the production capacity of its Shanghai facility with the introduction of its second phase. The expansion represents a total investment of € 10 million. (US $ 13.9 million). In general, the number of jobs at the site will grow to 500 from 335. It covers a total area of 12,500 square meters.
The Chinese market has huge growth potential. China is working on industrial solutions to protect the environment and save energy through the use of modern energy technologies. There is a demand from Chinese factories for innovative solutions that allow them to achieve true competitive advantages in global competition. They are transforming their business models from quantity to quality. SMS Meer is fully committed to supporting customers in China during this process.
Xiao Zaugao, head of SMS Meer in China, said a growing number of companies in the domestic steel industry are struggling with overproduction and tight margins by turning to high-quality equipment and solutions to improve efficiency, reduce emissions, and increase product quality.
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