Company Cranks up Cash

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Last updated at: (Beijing Time) Friday, June 13, 2003

Company Cranks up Cash

The world's leading testing, inspection and certification company will double its investment in Guangdong this year.

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The world's leading testing, inspection and certification company will double its investment in Guangdong this year.

The London stock market-listed company, Intertek, has attached great importance to the southern Chinese province since its first local subsidiary was launched in Shenzhen in 1989.

To show its confidence in Guangdong in the post-SARS period, Intertek's board meeting was held in the province earlier this week. It was the first time that such a meeting had been held outside its headquarters in London since it went public last May.

"We plan to invest about US$5 million this year in new laboratories and offices in Guangdong," said Richard Nelson, chief executive officer of Intertek.

He said the input in Guangdong accounted for half of the company's total investment in China, with the rest going to East China's Shanghai and surrounding areas.

Among its 1,500 local employees, 800 are in Guangdong, 650 are in Shanghai and the remainder are in east and southeast coastal cities.

"Localized management is a key for our sustainable development," Nelson said.

The company plans to expand the number of its local employees to 2,000 this year.

Raymond Kong, executive vice-president of Intertek and a major driving force in the rapid expansion of the group's business in China and Asia, said a larger slice of the investment in Guangdong will be used in the textile system certification service sector.

"That's due to Guangdong's powerful textile status," he said. Operating in 99 countries with over 270 laboratories and 530 offices, Intertek is preparing to list on China's stock markets.

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