International molding company to open headquarters in SND

A signing ceremony for Tontec's new project is held in Suzhou New District on May 31. [Photo/WeChat account: snd-szgxqfb]

Tontec, a global company specializing in plastic injection molds, signed an agreement with Suzhou New District to expand its investment in the country and establish its Chinese mainland headquarters in the district on May 31, local media outlets reported.

Mao Wei, head of SND, expressed gratitude to Tontec for establishing the company's Chinese mainland headquarters and R&D center in SND, as well as vowed to support the company's development.

Cai Ruihui, chairman of the board of directors of Tontec Precision Tooling (Suzhou) Co, thanked SND for supporting Tontec's development.

The agreement includes expanding the company's investment to 150 million yuan ($23.56 million) with a newly registered capital of $15 million, as well as building an R&D center, a plant, and supporting warehouses on the original site in SND, covering a total area of 35,263 square meters.

Once construction is finished, the new headquarters is expected to increase the annual production capacity of household power switch accessories by 1 million pieces, as well as achieve an annual output value of 1 billion yuan.

Founded in Hong Kong in 1982, Tontec International Ltd has set up six manufacturing sites in the Chinese mainland, with the ones in Suzhou and Shenzhen containing development centers.

Founded in SND in 2002, Tontec Precision Tooling (Suzhou) Co is a wholly-owned subsidiary of Tontec International Ltd that is engaged in plastic products processing and precision mold fine processing, with clients including Canon, Schneider, Siemens, as well as Bosch.