Huanggang, Hubei – Jason Furniture, a leading Chinese upholstery furniture manufacturer, announced in December its plan to invest CNY1bn ($153m) into a second site in central China’s Huanggang.
The firm signed contract with Huanggang Hi-Tech Development Zone earlier this month. The second site, covering 200,000m2, is scheduled to break ground over the first quarter of 2021 and come on stream in the first quarter of 2022.
It has designed annual capacity for 120,000 standard units and 5m m3 custom-made products, and will bring in CNY1.5bn annual sales with nearly 12% profit margin, said the company.
The older site in Huanggang has CNY1.5bn investment, and its designed annual capacity includes 600,000 standard units and 4m m3 custom-made products. It will start full operation by the end of 2022 and generate CNY3bn annual sales.
Jason Furniture has been revving up expansion and just announced its overseas plant in Vietnam in late November. The firm currently has 6 sites in China and three overseas sites in Vietnam, Malaysia and Mexico, it told UTECH-polyurethane.com.