USI to build a new plant in southern China

The company has signed a "Project Investment Agreement" with China Merchants Group of Huizhou Daya Bay Economic and Technological Development Zone of Guangdong Province, planning to set up a wholly-owned sub-subsidiary – Huanrong Electronics (Huizhou) – in area, USI states in a press release. The new subsidiary will mainly br producing video control panels, cash registers, server motherboards, new electronic products and other products. The total planned investment (including land transfer fees) will amount to RMB 1.35 billion (EUR 175.30 million). The new company will be owned by Universal Scientific Industrial Electronics (Shenzhen), a subsidiary of USI. As USI’s only production base in South China, Universal Scientific Industrial Electronics (Shenzhen) is running near full capacity, and the existing site and space cannot meet the development needs of the company's business. Therefore, the company's investment in the new plant in Huizhou is a key project in the development strategy of USI