Cubic Integrated Group (CIG) has entered into an investment agreement with Wanzhou Industrial Park Administration Commission, Chongqing, China, to build its first overseas global Integrated Manufacturing Hub offering integrated manufacturing solutions to the global manufacturing industry.
“We are pleased to establish a direct presence in China and feel confident to have a partner who shares the same vision as us and able to commit and contribute to the technology know-how and manufacturing capability necessary to successfully build an Integrated Manufacturing Hub not only to support the global Manufacturing industry but also to build a community that integrates work,education, and lifestyle in one metropolis, which is what CIG's vission is based on" said Datuk Goh Seng Chong.
Located in the Wanzhou, Chongqing, China, the investment commits to a 5-year progressive plan which outlines the scale and size of investment which is estimated around USD400million and with targeted revenue of US$1.42billion for the first 5 years.
The Integrated Manufacturing Hub will mainly focus on electrical and electronics home appliance products like coffee maker, blender, iron, LCD TV, water heater, pet waste disposal units, motor and auto spare parts, mini-circuit breaker, water filter, vacuum cleaner, hair dryer, etc. “With China’s ever growing population, we want to be close to the domestic market and we see household appliances as a niche market for this region.” Datuk Goh further added.
