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BenQ Invests in Nanjing Biotech Facility
September 27, 2003 |
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The Taiwan-based consumer electronics manufacturer announced plans to invest up to US$10 million in a medical facility in Nanjing, China.
Under the plan, BenQ will find partners through the help of the Nanjing city government to jointly build the facility and will remit the US$10 million in separate installments. The medical center to be established by BenQ's Malaysian subsidiary would be completed three years after the company obtains approval.
The investment was the first substantive move of BenQ into the biotechnology arena, a field that deeply interests chairman K.Y. Lee, who has proposed designs for biotech-enabled devices such as a speedometer handset intended for power walkers.
"We have been promoting the BenQ brand in mainland China and hope to raise the image of the company by investing in the country's medical industry," said BenQ spokesman You Ke-yung.
The company is also considering setting up a research and development center in Nanjing, adding to similar facilities the company has established in the United States and Suzhou, China.
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