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TDK EPCOS, a leading company of discrete semiconductor devices in the world, increased capital of USD 100 million in Wuxi to enlarge capacity. On August 24, Xinwu District in Wuxi and TDK EPCOS Group signed cooperation agreement on deepening strategies. Both sides will further strengthen cooperation in the field of semiconductor. Wang Quan, Mayor of Wuxi, met a group led by Christian Block, CEO and President of TDK EPCOS Group, and attended the signing ceremony. Huang Qin, a member of the Wuxi Municipal Party Standing Committee and Executive Vice Mayor of Wuxi, and Ye Qinliang, Secretary General of the Wuxi Municipal People's Government, attended the activity.
Wang Quan said in the meeting that this time, the project with increased capital of TDK EPCOS Group has good market prospect, and the Wuxi Municipal Party Committee and the Wuxi Municipal People's Government will support construction of the capital increase project with all strength. He hoped that TDK EPCOS can have greater development achievements in Wuxi.
According to signing contents, TDK EPCOS plans to newly increase registered capital of USD 100 million in the Wuxi Branch within 2016. After reaching design capacity, the project will newly increase 6 billion chip-sized small-scale surface acoustic filters in annual output, and it is predicted that by the end of 2018, sales volume of RMB 4 billion will be reached.