Hirschmann to establish headquarters in NETDA

Austrian-based Hirschmann Automotive Co signed an agreement to establish its China's headquarters in the Nantong Economic and Technological Development Area (NETDA) in East China's Jiangsu province on Oct 20.

Nantong Mayor Zhang Tong met with Helmut Rakowitsch, consul general of Austria in Shanghai, before the signing ceremony, noting that the 120-million-euro ($126.65 million) facility will inject new vitality into the city's high-end equipment industrial chain.

Zhang expressed hope that Hirschmann will expand investment, channel more resources into research and development and attract more upstream and downstream enterprises to Nantong.

Zhang added that authorities will sustain efforts to create a favorable business environment that is market-oriented, law-based, and internationalized.

Rakowitsch expressed his gratitude to the Nantong government for its support of Austrian companies based in the city and expressed hope that Austrian companies will strengthen cooperation with Nantong in economic and cultural fields.

Founded in 1959, Hirschmann has 12 factories, offices and R&D centers across the globe aimed at providing technical support and customized solutions to customers.

The output value of Hirschmann Automotive Nantong Co from January to September of this year stood at 402 million yuan ($54.96 million), a year-on-year increase of 18.03 percent.