KINGSTON TECHNOLOGY INVESTS IN NEW SHANGHAI FACILITY
Added: (Mon Aug 13 2001)
Pressbox (Press Release) -
Memory maker defies global downturn and unveils strategy for growth in Chinese market
13 August 2001, Kingston Technology Corporation has expanded its global operations with the launch of “Kingston Technology Electronics (Shanghai) Company Limited”, a joint venture with China Great Wall Computer Shenzhen Company Ltd. (CGCsz). It is one of China’s largest manufacturers and distributors of computer products while Kingston Technology is the largest independent memory manufacturer in the world with a global reputation for reliability and quality.
In the current gloomy technology climate, Kingston Technology has found a way of expanding its business into new regions. The company is performing well across the globe, with sales in China growing more than 220 per cent last year alone. Building on this success, Kingston Technology is among the first memory manufacturers to leverage the largely untapped market that China has to offer. The area is of particular interest to computer and electronic component manufacturers as it makes up forty per cent of the Asian Pacific market for personal computers (Gartner Group). With 1.3 billion consumers, China’s increasingly liberalised economy has shown the greatest potential of all the Asian markets.
In addition, Kingston Technology is taking advantage of a ready-made market in this region. The Chinese government has stipulated that computers made in China must have fifty-one per cent of their components manufactured in the country. Kingston Technology can now help U.S. multinational companies fulfill this condition by supplying memory modules from its new facility located in a 50,000-square-foot plant in Shanghai’s Pudong “Silicon Harbor”, China’s bustling centre of high-tech business expansion.
Wai Szeto has been appointed general manager of “Kingston Technology Electronics (Shanghai) Company Limited”. Commenting on the company’s expansion into China, he said: “We are confident that this new facility will provide us with a solid foundation from which to develop our memory business in an increasingly technology-focused economy. In order to succeed in China, it is extremely important to us to have a strong partner like CGCsz on board, who have been able to help us understand the Chinese culture and business practices. As a subsidiary of Great Wall Technology Company Limited, it has expertise in local distribution and logistics, and a well-rounded knowledge in government regulations. Combined with Kingston Technology’s quality memory products and excellent service, we hope to see tremendous growth in this region over the coming years.”
Kingston Technology Corporation owns eighty per cent of the new business endeavor, while CGCsz will own twenty per cent. New chairman of Kingston Technology Electronics (Shanghai) Company Limited, Mr. Zhi Wang, also chairman and president of Great Wall Technology Company Limited, said: “More and more high-tech companies have acknowledged the economic potential of our country by investing in China’s growing market. Partnering with a company like Kingston Technology provides China with a premier memory solutions provider for our computing needs.”
About China Great Wall Computer Shenzhen Co., Ltd
China Great Wall Computer Shenzhen Co., Ltd. was established in 1985 and went public in 1997. Its primary businesses include R&D, manufacturing and sales of PCs, and PC support of e-commerce and business solutions. The company is ISO9000 and ISO14000 certified, and in 2000 company sales exceeded 2.25 billion RMB.
About Kingston Technology Corporation
Founded in 1987, Kingston Technology Corporation offers a wide range of quality memory products and services designed for increased productivity and overall system performance. Through its ownership of Kingston Technology‚ Company Inc., Payton Technology‚ Corp., and Advanced Validation Labs‚ (AVL), Kingston Technology Corporation is one of the world’s leading memory module manufacturing, module validation, semiconductor packaging and test company’s in the world.
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