Ninestar makes significant land purchase
September 12, 2018
The Chinese company has announced the acquisition of the land in Zhuhai City as part of a future production strategy.
According to papers released by the company this week, the land – on the east side of the Gaolan Port Expressway in Pingsha Town, Zhuhai City – has been purchased on a fifty-year lease, for the purposes of production of Ninestar’s “high-end equipment intelligent manufacturing project for laser printers.”
The project, seen as part of the company’s “strategic development”, is being undertaken in order to achieve Ninestar’s entry “into the top three global laser printers.”
The total size of the land purchased is just over 598,000 square metres, and will cost Ninestar ¥201.5 million ($29.3 million/€25.3 million).
The company explained that it will “gradually start the follow-up project construction work according to the progress of the project,” whilst adding that “successful bidding will not have a significant impact on the company’s operations and financial status.”
The acquisition of land use rights still needs to complete the signing of the land transfer contract, the payment of the transfer and the processing of the land certificate
Categories : World Focus
