Chinese plastics equipment maker Yizumi Precision Machinery Ltd. is setting up a research center in Germany, in a push to adapt manufacturing technology from high-cost spots like Europe to mass-market factories in places like China.
CEO Richard Yan outlined the company's thinking behind a series of R&D investments, including a new research and training facility in China, at a mid-November technical conference at its headquarters in Shunde.
Earlier this year, Yizumi announced it would open a technical research center in Germany, at RWTH Aachen University, which is well known for work in plastics.
"We just registered the research center in Europe [and] now it's under recruiting," Yan told journalists at a Nov. 15 news conference during the event, which drew 750 people to hear from European and Chinese technology experts. "And we hope the team can be ready in March next year."
The research center will "make better application of those ready achievements of very advanced research in Germany. We orient affordable advanced plastics injection molding and processing solutions for mass users in China and worldwide," he said.
"In the long run, I trust our operation in Europe will provide more and better opportunity for domestic [Chinese] engineers' development," he said. "Connecting directly with advanced European technology in this area. This is a just beginning."
Yizumi, which is one of China's largest makers of injection molding machines, has been targeting global markets.
In 2011, it bought the intellectual property of bankrupt U.S. injection press maker HPM. In October it opened a new headquarters facility for its U.S. subsidiary.