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Hengshen Fiber Materials Co. Ltd, has successful made an initial investment of about $4.8 million USD (30 million Yuan) in Southampton Science Park.
British environment, food and rural affairs Minister Owen Paterson, in its first day in his China visit, announced that one Chinese carbon fiber and advanced composite materials manufacturer, Hengshen Fiber Materials Co. Ltd, has successful made an initial investment of about $4.8 million USD (30 million Yuan) in Southampton Science Park.
As one successful case of Chinese fiber enterprises investment in British, Hengshen will make full use of the advantages of investment in the UK. They will cooperate closely with local scientific research institutions and related enterprises. Hengshen will use UK as a low carbon design R&D center in the aviation, aerospace and automotive parts to serve the EU and global market.
Hengshen chairman Qian Jing said: "We plan to closely cooperate with the European partners around continent. In order to promote the cooperation relations, based on the technology base and skilled labor considerations, we chose Southampton as our European and global business center."
The British Trade and investment department CEO Nick Baird said: "We welcome this development. Especially Hengshen is a company with magnificent development planning. Britain and China make concerted efforts and share experience and expertise in this cooperation. At the same time, this investment will bring jobs require advanced skills and advanced engineering to the British citizens."
Hengshen is a high-volume, leading and vertically integrated carbon fibre and composites manufacturer. It was founded in 2007, to meet the growing demand for advanced composite materials in the aerospace, automobile, marine, railway, renewable energy and industrial markets, particularly in the rapidly growing market for advanced composites in the Asia-Pacific region. Hengshen’s Engineering Services helps clients understand materials and develops customized solutions, thus enabling clients to offer higher value to their customers.