News & Event
- News & Event
According to Chungju City last week, Tsurumi Pump Korea held a groundbreaking ceremony in the Industrial Complex No.4 in Chungju, North Chungcheong Province last week. The company will invest KRW 7 billion in a 11,583 m2 site by February of 2014 to build pump production facilities and processed metal product manufacturing facilities.
The Chungju plant will manufacture fluid pumps, gas pumps, compressors, heat exchangers, pressure tanks and metal assembly structures.
Established in Osaka, Japan in 1924, Tsurumi Pump has two plants in Kyoto and Yonago.
With ten overseas subsidiaries and two plants, it generates annual sales of 34.14 billion yen.
Seok Mi-kyung, an investment promotion official of Chungju noted that attraction of Tsurumi Pump is the first foreign investment under the leadership of Chungju mayor Lee Jong-bae, adding that the city will provide its administrative support for approval of basic facilities and more.
Chungju and Tsurumi Pump Korea signed an investment agreement November of last year and also made a purchase contract of industrial sites in the Industrial Complex No.4 last April.
Source: Newsis (Sep. 3, 2013)
** This article was translated from the Korean.