Guangdong Yizhi Precision Machinery Co LTD has announced plans to expand its production capacity to 4 billion yuan a year as orders have surged in recent years.

Mr. Zhang, general manager of the company's injection molding machine division, told reporters at the pre-exhibition press conference of the China International Rubber and Plastics Exhibition on April 22. "Our global annual sales target for injection molding machines is 25% growth. " The company has started to expand its production base in Wusha, Shunde, Guangdong Province, with an additional 57,000 square meters. The first phase of the Wusha base, which covers 23,000 square meters, was put into production in 2016. Currently the plant produces electric injection molding machines and high-speed packaging systems, including injection molding machines and molds.

Yizhi said the company is steadily increasing production, and the Wusha plant can now produce at least 30 high-speed packaging systems per month, with the capacity to increase to 40 per month by the end of the year.

After the completion of the second phase of the project next year, it is expected that the annual output value of the Wusha plant will increase to 2.2 billion yuan. At that time, the production of rubber injection molding machines will be transferred from the plant to the Gaoli plant near the company's headquarters in Shunde, which has an operation area of 80,000 square meters.

In addition, Yizhmi plans to move the manufacturing of the two-plate machines to a 33,000 square meter plant in Suzhou's Wujiang district in the middle of the year. After the transfer is completed, the annual output value of the two board machines in the Wujiang plant will reach 500 million yuan, and the annual output value of the robot equipment will reach 200 million yuan.

In other countries, Ishimi's plant in Amdabad, India, which opened in June last year, covers an area of 8,775 square meters and plans to produce 200 to 250 injection molding machines per year. The company also plans to open a 20,000-square-meter research and development center in Wusha next year. Last year it opened a medium-sized technology research center in Aachen, Germany, a major research center for plastics processing, in conjunction with RWTH University.

In 2016, it announced an investment of 81.5 million yuan in research and development.

At this year's China Rubber & Plastics Exhibition, Yizhimi also announced that it had invested in Prince & in Yipen, Belgium; Weiss Center for Environmental Plastics Innovation.

Yimi's main exporters are Turkey, South Korea and Southeast Asia, but there are plans for a major expansion in the North American market.

At the end of 2017, Yimi's U.S. subsidiary, Yimi -HPM, built its U.S. center in Iberia, Ohio, covering 23,000 square meters with an investment of $1.8 million. The center is mainly used for after-sales support and service. Ishimi-hpm has 20 full-time employees, including four engineers. Sales at the U.S. company jumped 114 percent last year.

Yizhi, founded in 2002, went public in 2015 and is currently listed on the Shenzhen and Shanghai stock exchanges. The company also produces casting molds and rubber injection molding machines.

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