Maxtor Corporation has announced that it is building a new manufacturing facility in China. Construction is scheduled to begin in mid-March, and the facility is expected to be completed in the second half of 2004. The hard drive manufacturer will invest up to $200 million in the facility over the next five years.“Establishing a manufacturing facility in China is a strategic step in Maxtor’s evolution as a company,” said Paul Tufano, president and CEO, Maxtor. “This investment will provide the company with a low-cost option to accommodate growth of our hard drive business over the next decade. We remain committed to our Singapore operation and will use a phased approach to bring production into the new China facility based on our continued focus on balancing supply and demand,” he added. K.H. Teh, executive vice president for worldwide manufacturing, Maxtor stated that Singapore would continue to remain at the centre of Maxtor’s manufacturing operations. “The China facility will leverage these key attributes of our Singapore operation. The Suzhou Industrial Park is a China-Singapore government-to-government project, modeled along the proven Singapore system, which has worked well for Maxtor,” he explained.Maxtor’s new unit in China will focus on the manufacture of desktop hard drives, a portion of which will be for the domestic market. The Singapore facilities will continue to produce high-end desktop and server drives.
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