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China plant sounds good to Harman

By Pan Zhongming (China Daily)
Updated: 2008-12-20 07:54

Related readings:  Harman opens new auto systems plant in China

US-based Harman International has opened a new automotive systems plant at the Suzhou Industrial Park in Jiangsu province, indicating the company's confidence in the Chinese market in defiance of the global financial crisis.

"This manufacturing and engineering expansion is a key element of our strategy for growth, while leveraging the attractive infrastructure, talented workforce and new business opportunities in the Asian markets," said Dinesh C. Paliwal, Harman's chairman and CEO, in a recent interview with China Daily.

The new Harman plant in Suzhou produces a variety of speakers, amplifiers and electronic components under the Harman Kardon, Infinity, and JBL brands.

Its customers include Shanghai General Motors and South Korea's Hyundai, Ssangyong, and Kia auto brands.

The facility will also produce premium audio, connectivity and entertainment systems for an extended version of the BMW 5-Series, built exclusively for the Chinese market.

Although the economic crisis is of great concern, the company believes it will actually benefit in the long run by being ready to serve pent-up demand for automotive, consumer and professional audio products, said Paliwal.

"We have carefully managed our assets to be prepared for such a cycle and we have a healthy balance sheet to help us weather the storm as we prepare for brighter days," he said.

"We recently completed a comprehensive market analysis and channel strategy for China which reveals we must become more aggressive in grasping the opportunities of this important market," Paliwal said.

"Our recent investment in Suzhou is just the beginning, as we intend to dramatically increase our sales to about $1 billion over the next five years and to triple our employment in China from the current 1,000 people."