The Japanese Global Fortune 500 enterprise Ricoh will add a $90 million investment in Wuxi to build its second plant.
Ricoh, a famed manufacturer of office equipment and optical equipment, launched Ricoh Thermal Media (Wuxi) Co in the Wuxi National Hi-tech District in 2006.
It engages in manufacturing and sales of thermo-sensitive paper, and processing and sales of thermal transfer ribbon. Its thermo-sensitive paper, in particular, has taken the biggest market share in China for years.
Last year the Wuxi company reaped 740 million yuan ($110.71 million) in sales.
The new plant in Wuxi will introduce a production line of thermo-sensitive products to multiply capacity. It is anticipated to bring in 380 million yuan in sales every year after it goes into operation in April 2018, according to the Wuxi Daily.
Ricoh Group, established in 1938, specializes in photocopiers, fax machines, printers, portable digital cameras and printing supplies.
