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Tongfang (THTF) to create 70 jobs in Port Talbot | Tongfang (THTF) to create 70 jobs in Port Talbot |
(about 2 hours later) | |
One of China's largest TV manufacturers hopes to create 70 jobs after opening its European manufacturing headquarters in Port Talbot. | One of China's largest TV manufacturers hopes to create 70 jobs after opening its European manufacturing headquarters in Port Talbot. |
Tongfang (THTF) has invested £1.6m in its plant at Kenfig Industrial Estate. | Tongfang (THTF) has invested £1.6m in its plant at Kenfig Industrial Estate. |
The company says it has created 45 jobs since installing assembly lines in April, and hopes to create another 25 by October. | The company says it has created 45 jobs since installing assembly lines in April, and hopes to create another 25 by October. |
First Minister Carwyn Jones said the Welsh government had been targeting China's "massive" investment potential. | First Minister Carwyn Jones said the Welsh government had been targeting China's "massive" investment potential. |
THTF is part of Tongfang Global, which has its headquarters in Hong Kong and has the largest TV manufacturing facility in northern China, employing 1200 people. | |
It is one of 79 foreign companies to invest in Wales in the last year, representing the highest level of inward investment for nearly 25 years. | It is one of 79 foreign companies to invest in Wales in the last year, representing the highest level of inward investment for nearly 25 years. |
Mr Jones said: "China is a major market with massive inward investment potential and a market Wales has been targeting diligently through business and cultural visits, trade missions, business links and trading agreements. | Mr Jones said: "China is a major market with massive inward investment potential and a market Wales has been targeting diligently through business and cultural visits, trade missions, business links and trading agreements. |
"It's good news to hear it is creating jobs well ahead of schedule and finding Wales a great location for its new base." | "It's good news to hear it is creating jobs well ahead of schedule and finding Wales a great location for its new base." |
Philip Jones, director, THTF UK , said: "Tongfang Global already supplies a number of key retailers in the UK from China and having this facility in Wales means we can offer our customers a much better service with shorter lead times." | Philip Jones, director, THTF UK , said: "Tongfang Global already supplies a number of key retailers in the UK from China and having this facility in Wales means we can offer our customers a much better service with shorter lead times." |
The Welsh government provided £600,000 of business finance towards the project. | The Welsh government provided £600,000 of business finance towards the project. |
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