(yarnsandfibers) -- Despite less foreign direct investment going into China, the US-based W. L. Gore and Associates Inc, a leading manufacturer of advanced technology products for the electronics, fabrics, industrial and medical markets, plans to increase its presence in China by investing more in its Shenzhen plant this year.
Gore, which entered China about 10 years ago, plans to invest about USD20 million in a second fabric plant in Shenzhen this year.
The new project comes after Gore has already spent more than USD70 million in Shenzhen in the past decade. It is expected to help the company increase its annual sales by 50 percent.
"Gore Shenzhen is the hub for our Asia-Pacific businesses, and we continue to invest in building what we refer to as a 'cluster' in Shenzhen, which has proved to be a successful model to co-locate business units, functions and other support infrastructure in a common location," said Terri Kelly, Gore president and CEO.
By taking advantage of propriety technologies that incorporate the versatile polymer polytetrafluoroethylene, Gore has devised numerous products that can be used in electronic signal transmissions, fabric laminates, medical implants, as well as in membranes, filtration, sealants and fiber technologies for industries.
MRC