Micronics Opens Sales Office in Shanghai
Micronics International in Ventura has opened its first sales office in China, in Shanghai.
Company officials said Shanghai represents a key city because almost 30% of the electronic items imported today by China are consumed by manufacturers in and around the city. Shanghai also contains the Pudong Free Trade Zone, one of the few areas where goods meeting certain restrictions may be imported without tax.
Micronics managers said the Shanghai office is a critical first step in their growth plan. Over the next two years, the company plans to open six offices throughout the People’s Republic of China to sell semiconductors.
Semiconductor components are the No. 1 commodity imported by China. This year, Micronics officials said, China is expected to purchase more than $10 billion in semiconductors from abroad. It is anticipated that the number will grow to more than $100 billion by 2005.
Micronics hopes that through its China presence, it can generate revenues in excess of $25 million by 2000.
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