Wuxi government officials and executives from Atlas Copco lay the foundation of the company's compressor technique China headquarters. [Photo/WeChat account: xinwu_wx]
Atlas Copco, a Swedish multinational company specializing in air treatment, broke ground on its China headquarters for the research, development and manufacturing of compressors in Wuxi National Hi-tech District, East China's Jiangsu province on June 26.
The 3-billion-yuan ($416.12 million) headquarters represents the largest investment by Atlas Copco's Compressor Technique Business Area in the past 27 years, according to Vagner Rego, president of the business area.
Vagner Rego, president of Atlas Copco's Compressor Technique Business Area, delivers a speech at the groundbreaking ceremony. [Photo/WeChat account: xinwu_wx]
Expected to be in full use by the end of 2025, the headquarters will focus on expanding the output of core equipment and increasing energy efficiency. Rego noted that Atlas Copco hopes to provide a reliable solution to sustainable production with innovative and energy-saving products, as compressors account for 9 percent of China's industrial power consumption.
The Swedish group set up its first Chinese production base in Wuxi in 1994 and its business has been growing rapidly, with an increasing variety of products and services offered to global markets by its Wuxi branch.
The new headquarters will also help reinforce Wuxi's modern industrial system, which is underpinned by real economy.