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Singapore's Spare Parts Business Enters China's $21 Million Towards Shanghai
Singapore's auto parts manufacturers are showing growing confidence in the Chinese market, with many now actively expanding their presence into China. Recently, Aettek Engineering Co., Ltd., a well-known Singapore-based company, signed a strategic cooperation agreement with China's Nanhui Industrial Park. As a result, the company plans to establish "Ante Metal Forming (Shanghai) Co., Ltd." within the park. This marks the first time a Singaporean firm has set up such a large-scale automobile parts production facility in China.
Under the terms of the agreement, Ante Engineering will invest $21 million over the next five years and construct a 45,000-square-meter factory complex in Nanhui. Once fully operational in 2005, the plant will begin manufacturing and assembling key automotive components such as door locks, window systems, drive shafts, transmission gears, universal joints, and specialized fasteners. These products will be distributed both domestically in China and internationally.
This move highlights the increasing importance of the Chinese market for Singaporean businesses, especially in the automotive sector. With rising demand and a strong industrial base, China continues to attract foreign investment, and companies like Aettek are positioning themselves to capitalize on this growth. The collaboration between Aettek and Nanhui Industrial Park is a clear signal of the shifting dynamics in global manufacturing and the growing interdependence between Singapore and China.
Source: Auto Parts Business Network
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