Premo open new facility in China

The company is growing over 30% and expects to grow at an annualized aggregated rate over 20% the next three years according to existing customers´ contracts and forecasts. This will require further capacity to be available for growth especially for applications in Power Electronics for Renewable energies and Automotive. The new premises will give Premo China the chance to increase R&D team 60% in two years as well as creating 200 more direct jobs and increase turnover in 112Million RMB in next 3 years. The Chinese WND authorities have granted support for this project by the signature of an MOU done yesterday.