The Suzhou Industrial Park -Xiangcheng District Cooperative Economic Development Zone became home to new investment projects by the global industrial company ITW on January 5.
ITW, founded in 1912, is an American Fortune 500 company based in Chicago. It employs nearly 43,000 people across 52 countries and had a total revenue of $12.6 billion in 2020.
Tiantai Electrode, a member of ITW’s welding enterprises all over the world, is also the company’s key business unit in Greater China that specializes in products including welding materials and machines. Tiantai Electrode also operates a number of facilities in Shandong Province, Suzhou City, Shanghai and Zhejiang Province.
To meet the business development needs, ITW’s welding business will purchase about 70 mu of land in the cooperation zone to build a factory and R&D center as the company's headquarters in Greater China, with a registered capital of $47 million.
The cooperation zone, a joint effort between the industrial park and Xiangcheng District, boasts advantages in easy transportation, lower cost and sound ecological environment. The zone has given priorities to the development of next-generation information technology, high-end equipment manufacturing and new materials. Since last year, it has attracted investment from many foreign enterprises, such as Carsem Semiconductor, Rogers Corporation and Radici Group.
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