Atlas Copco Wuxi. [Photo/WeChat account: xinwu_wx]

Wuxi National Hi-tech District in Wuxi, Jiangsu province, is home to more than 26,000 businesses, including over 1,600 foreign-funded enterprises. The businesses mainly focus on high-tech, new energy and modern service industries, and are playing a vital role in the district's high-quality economic growth.

Swedish industrial equipment manufacturer Atlas Copco Group officially agreed to build its industrial compressor research and development and manufacturing headquarters in WND on Feb 21.

The project, with a total investment of 3 billion yuan ($473.2 million), will become the largest manufacturing and product R&D base for Atlas Copco's industrial compressor business outside its Belgian headquarters.

Atlas Copco Group is a world-leading provider of sustainable productivity solutions, engaging in developing and producing innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems.

The group established its first production center in Wuxi - Atlas Copco Wuxi Compressor - in 1994. The subsidiary specializes in developing and manufacturing Atlas Copco's portable diesel and electric-driven compressors and generators, lighting towers and small to medium-sized industrial air and oil-free compressors for the global market.

An intelligent workshop of Atlas Copco Wuxi. [Photo/WeChat account: xinwu_wx]

Atlas Copco Wuxi has now grown into a global manufacturing center in the industrial compressor business, and is also one of the foreign-funded enterprises with the best benefits and largest contributions to WND. In 2021, it achieved sales of 5 billion yuan and tax revenue of over 400 million yuan. The group has also built four subsidiaries in WND.

Peter Coppieters, general manager of Atlas Copco (Wuxi) Compressor, said: "During our development, we have received support from the district government in areas like efficient logistics, attracting talented people and social security benefits for employers. The good business atmosphere in Wuxi encourages us to explore new levels of win-win development aligned with the local government."