Fortune top 500 company to invest more in China
(Xinhua)
Updated: 2005-11-22 13:40

3M Co., a US-based Fortune Top 500 company which makes Scotch tape, Post-it notes and a range of industrial products, announced Monday it will invest more in West China in the coming years.

"We have many important clients in west China. As a result, we will expand our business in this region and set up new offices here," said Yu Junxiong, Managing Director of 3M China.

Yu made the remark at an unveiling ceremony for the company's new technical products held Monday in Chengdu, capital city of southwest China's Sichuan Province.

"We will build our eighth factory on the Chinese mainland either in Chengdu or Chongqing. The initial investment will be some 30 or 50 million US dollars," added Yu.

Zhu Hongzhi, vice mayor of Chengdu, expressed appreciation for 3M's decision when addressing the ceremony on behalf of the city government.

Headquartered in Minnesota, U.S., 3M Co. was founded in 1902. It has been an innovative technology company with a worldwide presence in a variety of markets covering consumer and office, health care, transportation, commerce, education and electronics and communications.