SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Seagate Technology
STX 289.83+0.8%Jan 5 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: kha vu who wrote (5157)7/2/1998 1:05:00 AM
From: DJBEINO   of 7841
 
Seagate Technology Plans to Boost Investment in Shenzhen
July 2, 1998 (BEIJING) -- Seagate Technology Inc. of the United States said it plans to increase its investment in Shenzhen, from US$20 million to US$122 million within five years.
A contract on increasing assets for Shenzhen Seagate Co., Ltd. was signed recently at the Great Hall of the People in Beijing. This was one of the Sino-U.S. economic cooperation programs signed in conjunction with U.S. President Bill Clinton's visit to China.

The increased investment will be used mainly to purchase and install production equipment and related facilities.

Seagate Technology and China Electronic Industrial Corp. jointly set up Shenzhen Seagate Co., Ltd. in 1992. The joint venture, with about 1,700 employees, has produced more than 16 million hard disks. It is one of Seagate's most efficient subsidiaries.

Seagate is confident about China's macroeconomic environment and the expansion of its business in the country, a Seagate official said. He added that more investment will be channeled into another hard disk production plant in which Seagate has invested, in Wuxi, in east China's Jiangsu province.

Seagate's global sales surpassed US$9 billion in 1997. Shenzhen Seagate took the lead in China's foreign-funded enterprises in exporting products worth nearly US$940 million in that year.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News