Miba to build two new plants near Shanghai and Shenzhen
EUR 100 million to be invested in China over the next four years
- Over the next four years, Miba will invest EUR 100 million in China.
- In a first step, two new plants are being built in Suzhou near Shanghai and in Qingxi near Shenzhen.
- All of Miba's product areas in the Chinese market are seeing rapid growth.
- Miba already employs 1,000 people in China.
- China provides additional growth opportunities as the world's largest electric vehicle market.
- Miba's building space for production and offices in China will grow from 30,000 square meters today to almost 50,000 square meters.
The Upper Austrian technology group Miba is further expanding its presence in the growth market of China. Miba had already opened its first plant in Suzhou near Shanghai in 2007 and has tripled its production area since then. The Group has also operated a production plant for high-power resistors in the city of Shenzhen in southern China since 2011. Two new plants are now being opened at the two sites in response to major opportunities for growth provided by the Chinese market. Over the next four years, the Group aims to invest a total of around EUR 100 million in China.
High-power resistors for the booming e-mobility market in China
In the region of Shenzhen near Hong Kong, the Miba Power Electronics Group will invest around EUR 10 million to build a new production plant for high-power resistors for Miba’s brand EBG Resistors. With one plant in Shenzhen, Miba has already had a presence in the region since 2011. In response to the strong growth in recent years, a new building will be built in nearby Qingxi, increasing the production area to 12,000 square meters, almost double the current size. The new plant will employ a workforce of around 300 and begin operations in mid-2019. In Shenzhen, Miba is currently very successful in producing EBG high-power resistors for efficient energy generation and electricity transmission over long distances (HVDC technology). At the same time, Miba has also managed to gain a foothold with EBG resistors in China as the largest sales market for electric vehicles – it already supplies the largest Chinese manufacturer of electric cars. A dedicated production line will be installed in the new plant for the booming Chinese e-mobility market. "With EBG high-power resistors, we offer our customers high-tech solutions for e-mobility and the efficient and resource-friendly transmission of electricity," says Miba CEO F. Peter Mitterbauer. "In addition to working with our customers in developing and producing solutions related to the traditional powertrain, we are increasingly acting as an essential partner in developing new drive concepts like hybrid technology and purely electric driving."
Second, additional production site in Suzhou
Miba is also building another additional production site in Suzhou near Shanghai. In 2007, the Group already opened its first plant in China in Suzhou Industrial Park. Miba Precision Components China (MPCC) increased its revenue fourfold from around RMB 200 million in 2010 to more than RMB 800 million, equivalent to over EUR 100 million. The plant has also undergone a major expansion and the building space for production and offices has tripled in size from 8,000 to 24,000 square meters. Miba develops and produces sintered components, engine bearings, friction materials and coatings for the automotive and truck industry. Because of ongoing rapid growth and a lack of available property to further expand the existing location, Miba is building a second, additional production site a few kilometers away with around 10,000 square meters of building space. Around EUR 7.5 million will be invested in buildings and machinery, and construction is expected to be completed in around twelve months. "Since 2007, MPCC has grown to become one of Miba's true successes. We managed to establish our business in China from the site in Suzhou, and now we will embark on our next growth phase," says Miba CEO Peter Mitterbauer. "Miba is a globally operating group with over 7,000 employees in Europe, Asia, North and South America – our activities in China are making a substantial contribution to Miba's growth and success both today and in the future."