Sandvik Group, the global leading engineering company in mining and rock excavation, has invested USD 15 million to set up a manufacturing base in Menghe Town of the Changzhou High-Tech Industrial Zone.

Founded in 1862, Sandvik is a global high-tech engineering group headquartered in Sweden. Its business includes mining and rock excavation, metal cutting and materials technology. The group has an annual sales volume of SEK 100 billion (approximately USD 11.66 billion).

Due to the special requirements in production, the site of Sandvik’s plant needs to have a bearing capacity of 30 tons, accompanied by a testing area of 6000 �? The Bureau of Commerce in the Changzhou High-Tech Industrial Zone spent one year searching for an area suitable for the group. With trial operation to begin in May, the newly-established plant is expected to be put into production in the second half of this year.

With strong supporting industries, the High-Tech Industrial Park in Changzhou has attracted a batch of leading enterprises and “hidden champions� in different sectors. Economies of agglomeration are emerging as a group of northern European enterprises settled here. Moreover, in the field of mechanical engineering, it boasts a complete industrial chain with several world-class foreign enterprises such as Hyundai from South Korea, BOMAG from Germany and Terex from the US.