The Hangcha Industrial Park project consists of buildings covering 240,000sqm (59.3 acres) on 340,000sqm (84 acres) of land.

Zhejiang Hangcha Construction Machinery Group Co Ltd (Hangcha) has invested CNY1.5 billion (USD219.5 million) in the Hangcha Industrial Park project and is aiming to be a top 10 global materials handling equipment manufacturer in the future.

The Hangcha Industrial Park project consists of buildings covering 240,000sqm (59.3 acres) on 340,000sqm (84 acres) of land. Five forklift assembly lines, four automatic vehicle testing systems, a product testing centre, an R&D testing centre and a modern logistics distribution centre are all a part of the facility.

According to Hangcha, the facility is used by nine of its subsidiaries, which collectively form the manufacturer's annual 80,000 forklift output.

Hangcha expects to generate CNY6 billion (USD878 million) in revenue next year.

"The completion of the industrial park establishes a solid base for Hangcha to be in the top 10 materials handling equipment manufacturers," a spokesman tells Forkliftaction.com News.