Newsletter #001 (View other news stories)
SPECIAL FEATURE (part 1)-- China: AMBITIOUS FANTUZZI PLAN PAYS DIVIDENDS
Zangzhou, China
Thursday, 12 Apr 2001
ZANGZHOU, China -- Fantuzzi Reggiane SPA Australasia general manager Terry Mulqueen says the Italian company's decision to launch an assault on the south-east Asian materials handling market is paying off.
Mr Mulqueen said the "ambitious" Fantuzzi Reggiane development plan had seen US$27 million invested in a massive refurbishment and redevelopment of the Zangzhou site, near Xiamen in China's south-east.
More than 800 staff work at the factory, and the company currently has 24 machines on back-order waiting to build and ship for domestic and overseas markets.
Fantuzzi Reggiane is the latest global giant to forge into the world's most populated country. Many major manufacturers have had a presence in China for some years, either through joint ventures or manufacturing plants.
Linde, TCM and Hyundai Heavy Industries are some of world giants which have forged partnerships to access the market since as early as 1993.
Fantuzzi Reggiane decided last October to enter what Mr Mulqueen describes as "the world's largest regional market for container handling equipment". The company did so by acquiring Germany's Noell Crane Systems, and negotiating control of 70% of Noell's China operations.
Fantuzzi Reggiane's China factory produces a range of machines, from regular forklifts to container handlers and straddle carriers. Senior staff had been moved in from head office in Reggio Emilia, Italy, and management reported directly to Fantuzzi Reggiane managing director Davide Bertozzi, Mr Mulqueen said.
"This is an incredibly important step for the company. We recognised that this was a huge, untapped market, and we needed to get in there," Mr Mulqueen said.
"With the current rate of development in China, and Asia generally, our new operation will form a major part of our global strategy."
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