Maxtor Corporation, a worldwide manufacturer of hard disk drives, today announced that it will build a new manufacturing facility in the Suzhou Industrial Park in Suzhou, China.
Construction of the 800,000 square feet facility is scheduled to begin in mid March and is expected to be completed in the second half of 2004. Maxtor has agreed to invest up to $200 million in the China facility over the next five years.
‘This investment will provide the company with a low-cost option to accommodate growth of our hard drive business over the next decade,’ said Paul Tufano, President and Chief Executive Officer. ‘We remain committed to our Singapore operation and will use a phased approach to bring production into the new China facility based on our continued focus on balancing supply and demand.’
The China facility will focus on the manufacture of desktop hard drives, a portion of which will be for the domestic market. Maxtor’s Singapore facilities will continue to produce high-end desktop and server drives.