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| Hong Kong toy hub lures US motor maker ( 13/04/2004 ) | |||||||||
US-based NanoMuscle Inc., a growth leader in the next generation motor market, has established its regional headquarters in Hong Kong, using the SAR as a strategic base for expansion into Asia. Nanomuscle offers silent low cost motors specifically designed for the toy industry. The Hong Kong office will oversee sales and marketing activities in the region, leveraging Hong Kong’s leading position as the world’s largest toy exporter. The company also sees Hong Kong as the gateway to the Chinese mainland, supported by a manufacturing plant in the Pearl River Delta, southern China. CEO and co-founder of NanoMuscle Inc., Rod MacGregor, said: “With our offices in North America, Europe and Asia, NanoMuscle is able to work with our global customers in the children’s toy and automative industries from product conceptualisation through product design and engineering to mass manufacturing. We look to Hong Kong to provide us with world-class talent and expertise to help manage our explosive growth.” In view of significant market potential in the mainland, NanoMuscle expects to further grow demand for its silent affordable motors by focusing on the HK$63 billion (US$8 billion) Hong Kong toy market. Approximately, half of the world’s toy exports originate from Hong Kong. Founded in 1998, NanoMuscle is a privately held company financed by strategic partners including AutoVision GmbH, a wholly owned subsidiary of Volkswagen AG, DaimlerChrysler Cpaital Services and Jetta Ltd., the world’s largest toy manufacturer. Mike Rowse, director-general of investment promotion of InvestHK said NanoMuscle’s choice of Hong Kong as the “centre of its sales activities underlines our city’s increasing attractiveness as an international business hub.” Related links: | |||||||||
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