According to commercial news, Xiamen Riken Industrial Co.,Ltd. held a ceremony yesterday to celebrate production kickoff in its new plant in Jimei Mechanical Industry Zone. Deputy mayor Mr. Chonggeng Ye attended the ceremony.

According to information, Xiamen Riken was established in 1989 and exclusively funded by Taiwan Riken Industrial Co.,Ltd., the largest manufacturer of piston rings and cylinders in Taiwan. It is a professional company that manufactures key components for automobile and motorcycle engines. After it entered into Xiamen, it built a plant in Taiwanese Investment Zone of Xinglin. At the end of 2005, it required lands of 61,800 square meters to build new plants in Jimei Mechanical Industry Zone due to its business development needs and influence of municipal engineering constructions.

Total investments have reached 30 million dollars by now. Building areas of the first phase of new plants are 26,600 square meters. It can produce 50 million piston rings and 9 million camshafts every year, mainly supplied to Suzuki, Mitsubishi, GM, BMW, Hyundai and other automobile factories as well as Honda, Yamaha, Suzuki and other motorcycle factories. Annual turnover is estimated to reach 400 million yuan. Exports occupy 50%. Profits and taxes can reach 60 million yuan.

It is known that 7 projects have entered the Automobile Town of Jimei Mechanical Industry Zone. Total investment scale is 1.95 billion yuan. Second to King Long, Xiamen Riken kicked off its production in Automobile Town. Ultimate goal of Xiamen Automobile Town is to build it into the most important national export base of cars and parts as well as the largest global production base of large and medium passenger cars with annual production values of 20 billion yuan.

From: xmnn.cn