Swiss coin cell producer sets up branch in Zhuhai FTZ
World-renowned coin cell manufacturer Renata SA opened a business center for the Asian-Pacific region at the Headquarters Office Building in the Zhuhai Free Trade Zone on Oct 17.
The anticipated Asian-Pacific business volume of the Zhuhai branch is 20 million yuan ($2.8 million) by 2020 and 25 million yuan ($3.5 million) by 2021. Th annual sales volume is expected to double in the next three to five years.
Renata SA is a subsidiary of Swatch Group Ltd in Biel, Switzerland. It was founded in 1952 as a manufacturer of components for mechanical watches. It has grown into a leading manufacturer and supplier of coin cells for watches as well as a large range of electronic products.
Launch ceremony [Photo courtesy nanfangplus]
The company set up a 1,000-sq-m (1,196-sq-yd) bonded warehouse in the Zhuhai Free Trade Zone in 2017. The facility is now its storage and distribution center in the Asian-Pacific region, and offers value-added services such as storage, delivery, and packaging.
The main reason for the company to move its Asian-Pacific business center to the Zhuhai Free Trade Zone is proximity to Hong Kong and Macao and preferential bonded policies, according to a Renata SA executive.