Sweden's Sandvik seeks faster expansion in China
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Swedish cutting-tools and machinery maker Sandvik aims to grow in China at a rate twice the industry average for its mining and construction division.
Antonin Beurrier, in charge of Sandvik Mining and Construction for East Asia, said the domestic mining and construction equipment market which the company competes in is growing about 15 percent annually.
"We are not too concerned about the slowdown in China, as we believe the underlying growth is resilient," Beurrier said yesterday in Shanghai, as the company inaugurated a new research and development center in China.
Beurrier attributed the growth partly to rising orders from the mining sector as China mines more coal and iron ore.
The firm, which has a major plant in Jiading District, makes products ranging from drill rigs to crushers and loaders.
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