The US-based Nacco Industrial Group has decided to base some of its southeast Asian operations in Shanghai, company CEO Alfred Rankin said in Shanghai Friday.
In a meeting with acting Mayor Chen Liangyu, Chief Executive Officer Rankin said the company's logistics transportation arm will move its southeast Asia headquarters from Sydney, Australia, to Shanghai's Pudong New District.
The decision has come out of the company's confidence in the sustained economic growth, sound investment environment and high caliber professionals in Shanghai, and the high efficiency of the Shanghai government, said Rankin.
The acting mayor welcomed Nacco's decision, saying the new round of urban construction efforts in Shanghai will lead to the development of logistics and other industries, which, in turn, will bring more business opportunities to investors from the other parts of the country and the outside world.
Nacco, one of the top 500 companies in the United States, has opened offices and service centers in more than 10 Chinese cities including Beijing, Tianjin, Dalian, Shenyang, Suzhou and Wuhan. It set up a joint venture in Pudong in 1998 to assemble forklifts.
(China Daily February 4, 2002)
