Abacus & China: Investing for the Future
Abacus Lighting has officially opened a new, state-of-the art manufacturing facility this week in Shanghai, China to help increase production capacity and meet Abacus’s ambitious global growth plans.
With 20,000 square metres of space, Abacus’s newest and largest greenfield factory site, located at Fengpu Industrial Park in the Fengxian District, is still within striking distance of the metropolis of downtown Shanghai. Double the size of the company’s original Chinese factory - which was located in the Minhang District – the new factory and offices occupy 8,000 square metres with surplus space on the site purchased with future expansion in mind.
Abacus Shanghai’s 81 employees have now been moved to their new location which was deliberately selected for its reasonable distance from the previous factory, in order to retain the existing workforce.
Abacus employs 268 people worldwide and exports to over 42 countries. Specialising in the design, manufacture, installation and maintenance of exterior lighting, Abacus was one of the first British companies to invest in China fifteen years ago following a series of successful trade missions with the 48 Group.
Abacus originally entered China in 1995 under a joint venture agreement with the Shanghai Port Authority. In 2006, Abacus (Shanghai) Lighting Limited purchased its partner’s share in the company and became a wholly owned subsidiary of Abacus Holdings Ltd which it remains today.
The new Fengpu production facility showcases the most advanced technologies in lighting manufacturing production and will boost Abacus’s innovation in the region and worldwide says Group Managing Director, Andrew Morris-Richardson.
The new factory was officially opened at an exclusive evening reception at the Mandarin Oriental hotel in Knightsbridge, London, sponsored by HSBC and supported by the 48 Group, including a keynote from 48 Group Chairman, Stephen Perry.
Morris-Richardson said, “This new double-sized factory supports Abacus’s ambitious global growth plans. China overtook Japan as the world’s second biggest economy in the second quarter of 2010 and having a new, improved facility in China will not only increase our production capacity but improve our worldwide export opportunities.
We’re excited about what our future in China holds.”
Stephen Perry, Chairman of the 48 Group said, “The 48 Group has been part of Abacus’s Chinese journey since 1989 and it’s wonderful to have witnessed their growth during that time. Abacus is a great example of a British company investing in a growing economy overseas and the new facility in the Fengxian District of Shanghai is testament to the company’s hard work and long term vision.”
As well as doubling the size of their Chinese facility, Abacus recently announced plans to build a manufacturing plant in St Petersburg Russia following the opening of a sales office in Moscow in 2010.
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