08/02/2012 | Press release

Hisense and CAD Fund jointly Invest South Africa Appliance Industrial Park

distributed by noodls on 08/01/2012 21:15

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After the fifth Forum on China-Africa Cooperation (FOCAC), Hisense and the China-Africa Development Fund began investing into the Hisense South African Electric and Home Appliance Industrial Park project. Hisense purchased an existing, 10-hectare production facility (TEDELEX PROPERTIES ATLANTIS Industry Park) at the Atlantis Industrial Park, outside Cape Town, from Tedelex. The two parties signed the sale agreement on 27th July 2012, during a special ceremony at the Hisense head office in Midrand.

TEDELEX PROPERTIES ATLANTIS, located in Atlantis industrial park, is nearly 40km away from Cape Town port. It is an important electronics and home appliance production base. Hisense plans to invest 250 million rand into the industrial park during its first stage of development. Hisense plans to build TV and refrigerator factories on the park that will be dedicated to producing 3D TVs and eco-friendly refrigerators. 

Dr. Lan Lin, VP of Hisense Group, stated that the industrial park will produce products that will stay ahead of local products in technology, function, efficiency, and environmental indicators. All these products will be positioned for the high-end market. These efforts will further develop Hisense's brand image while creating conditions for the company to further develop in Africa and middle east regions.

This investment by Hisense is expected to create 600 direct jobs and an estimated 2 000 indirect opportunities, and produce 400 000 refrigerators and televisions each per annum. It will also introduce European-standard green technology and innovation into appliances being manufactured in this country.

Mr. Brain Soldaat from the Department of Trade and Industry stated that with deepening China-Africa relations, the South African government hopes more enterprises like Hisense, which have technology advantages and brand reputation to invest and build factories in Africa, can improve their overall competitiveness by fully utilizing local resources and strengthening cooperation with other local companies.

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