Terex Inks Agreement on Phase III Capital Expansion Project with Changzhou National Hi-Tech District

CHANGZHOU, China, Aug. 21, 2018 /PRNewswire/ -- On August 8, Changzhou National Hi-Tech District formally inked an agreement on an increase in capital for the Phase III project with Terex (China). The project with a total investment of $100 million focuses on manufacturing aerial work platforms and other engineering and machinery components and assemblies. The signing of the agreement for the capital increase will drive the introduction of top-tier upstream and downstream producers across the industry and finalize the build out of the district's engineering and machinery manufacturing ecosystem. Zhou Bin, the Changzhou Municipal Party and Changzhou National High-Tech District Committee secretary, and Xu Yawei, deputy district chief, attended the signing ceremony.

Headquartered in Westport, Connecticut, Terex Corporation is a global manufacturer of aerial work platforms and lifting and material processing products and services. Terex designs, manufactures and provides after-sales support for machinery and equipment used in a variety of industries, including engineering construction, maintenance, manufacturing, energy, mining and materials. The company produces equipment in the Americas, Europe, Australia and Asia and sells its products worldwide.

Up to now,Terex?(Changzhou) factory has been able to localize the production of dozens of different models of products, covering almost all of the Genie scissors, straight-arm crank products. with the help of local professional design team. Since 2010, the Changzhou factory has developed rapidly with an average annual output of more than 50% .

Changzhou National Hi-tech District (CND) is located in the heart of the Yangtze River Delta. There are 1,641 foreign-invested companies in CND. Recently, CND is accelerating the development pace and intensifying the efforts on construction of an industrial base, making 2 pillar businesses: equipment manufacturing (precision machinery) and new materials bigger and stronger. The emerging industries consist of new generation of information technology, biomedical, new energy vehicle, photovoltaic and aviation.

SOURCE Changzhou National Hi-Tech District