Austria-based PCB maker AT&S is set to open its new manufacturing facility in Chongqing by 2016. (Photo : www.advantageaustria.org)
AT&S Group, a producer of high-end printed circuit board (PCB) based in Austria, announced on Tuesday, Nov. 3, that its plant in Chongqing Municipality is "under construction" and will start its operation at the beginning of 2016.
According to the company, its sales revenue rose 28.2 percent year-on-year to 387 million euros ($422 million) from April 1 to Sept. 30.
Chief financial officer Karl Asamer said that the company has a better revenue growth than most of its competitors, who only achieved single-digit growth during the same period. AT&S reported above-market growth in the first half of its 2015 fiscal year.
Asamer told the Global Times that the company has enjoyed a stable market performance in China in recent years. He also noted that the recent fluctuation of the yuan's exchange rate against the U.S. dollar has had limited effect on its revenue.
According to the report, the company's PCBs are used in products such as industrial computers, smartphones, hearing aids and advanced driver-assistance systems.
Many foreign manufacturers have moved their plants out of China as the economy slowed down and factories were threatened with rising labor costs. However, AT&S has placed great importance to its two manufacturing bases in China, one in Shanghai and one in Chongqing, as it plans to invest around $1.4 billion from 2000 to mid-2017, the company said in its interim report.
Pan Zhengqiang, general manager of AT&S (China) Co., told the Global Times on Tuesday that the company was able to offset the rising labor costs by applying a high level of automation.
