Wuxi attractive to German investors

Three senior managers of German businesses visited Xinwu district, Wuxi in East China's Jiangsu province from March 28 to 29.

The visitors were Stephen May, chief executive officer of the Electrical and Automation Division of Siemens Smart Infrastructure, Ivan Donzelot, executive vice-president of the Life Science business of Merck KGaA, and Britta Giesen, chief executive officer of Pfeiffer Vacuum Technology AG.

Siemens is one of the largest foreign businesses in Xinwu district and one of the first to invest there. Siemens currently owns four factories, two branch companies, and one innovation center in Wuxi to produce medium- and low-voltage distribution equipment and medical devices.

In 2022, Merck Life Sciences decided to establish its Asia Pacific manufacturing base for disposable technological products in Xinwu district. During the visit, Merck Group announced an additional 100 million euros ($108.33 million) in investment to expand its manufacturing base in Wuxi, which will see improved capacity in biopharmaceutical disposable technology component production and customized service supply.

Pfeiffer Vacuum plans to invest $50 million to build its Asia Pacific headquarters in Xinwu district, including a Chinese manufacturing base for global orders and a distribution and settlement center and bonded maintenance center, which are expected to generate 2 billion yuan ($290.06 million) in annual sales revenue.