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Samsung investing $500 million into new testing facility in China

Samsung to invest half a billion dollars in a new testing facility to be built in China (KRX:005930)

| Business, Financial & Legal News | Posted: Sep 15, 2013 8:31 am

It looks like Samsung is putting down $500 million to build a new testing facility in Xi'an, an industrial city in Northwest China. The new facility will see packaging and testing done under its roof, and is the South Korean giants latest investment in a string of investments for its future in the last couple of months.

 

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The new facility will be built in the same city that Samsung built a $7 billion chip plant in last year, on top of the $1.7 billion it spent in 2012 on improving its operations in the manufacturing hub Kunshan. All of these steps that Samsung has made are all part of a $41.4 billion capital expansion that Samsung started last year. The electronics giant has seen gigantic success in the mobile devices segment, and is now packed with cash.

 

The company is using its flow of cash to invest in its future, which we're constantly seeing. In its Chinese supply chain network, Samsung has over 250 manufacturers, which is definitely saying something. The new factory will begin construction in January next year, and should be finished by the end of 2014.

NEWS SOURCES:Electronista.com

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