CHANGZHOU, China, June 5, 2019 /PRNewswire/ -- AAC Optics signed a contract for its camera module production facility at the 2nd Jiangsu Development Summit on May 20. Investment in the project is expected to reach US$600 million.
At the event, contracts for 32 key projects across Jiangsu Province were signed. Among them, AAC Optics' facility is the only one located in Changzhou. The project, with a registered capital of US$200 million, will specialize in the production and R&D of modules, sensors and related chips. It is expected to generate sales of 10 billion yuan (approx. US$1.5 billion) a year.
AAC Technologies, founded in 1993, is a global leader in acoustics, and a leader in China's electronic components industry. The firm has been named as a Champion Manufacturing Enterprise by the Ministry of Industry and Information Technology. Today, AAC Technologies has evolved into a key player across many segments including electromagnetic devices, radio frequency antennas and precision structures.
"The signing of this contract is expected to improve AAC Technologies' optical industry chain portfolio, enhance the leading edge that the company has already achieved in the intelligent communication and electronics industry, accelerate the development of next generation firms in Changzhou National Hi-Tech District's IT sector, act as a stimulus for an industry-wide upgrade, and give further proof of the zone's ability to bring in the most qualified players in each sector," said Zhou Bin, Secretary of the Changzhou National High-Tech District Committee.
About Changzhou National Hi-tech District (CND)
Changzhou National Hi-tech District (CND) is located in the heart of the Yangtze River Delta. There are more than 1,600 foreign-invested companies in CND. Recently, CND is accelerating the development pace and intensifying the efforts on construction of an industrial base, making 2 pillar businesses: equipment manufacturing (precision machinery) and new materials bigger and stronger. The emerging industries consist of new generation of information technology, biomedical, new energy vehicle, photovoltaic and aviation. ORCHEM has now chosen to settle in Changzhou Binjing Economic Develpment Zone, which is an important part of CND.
SOURCE Changzhou National Hi-Tech District