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Maxtor, the world's largest disk drive manufacturer, Monday began construction of a subsidiary in Suzhou, a city in east China's Jiangsu Province.
The first investment in China of the United States giant, the Maxtor Technology (Suzhou) Co. Ltd. will cost US$200 million to set up and will be operational late next year.
The company will specialize in the production of high-quality disk drives for desk-top computers from a 2.2-million-square-meter plant at the Suzhou Industrial Park. Most of the products will be sold on the Chinese market.
Established in 1982, the California-based company made US$3.8 billion in 2002. It employs 12,500 people worldwide.
(Xinhua News Agency March 18, 2003)
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