皇冠体育app

By Zheng Lifei (皇冠体育app Daily)
Updated: 2007-07-11 14:22

TINO Stone Group SA, one of world's top natural stone processors, expects to generate nearly a quarter of its sales from 皇冠体育app by 2010, driven by the country's brisk economy and a construction boom, said a top company executive.

"We are aiming for $60 million sales in 皇冠体育app and $250 million globally by 2010," said Antonio Valdes Cosentino, its president and chairman. "The Chinese economy is developing fast and the country's manufacturing prowess is impressive," said Cosentino, who also founded the company.

"Designers and architects all over the world are rushing to 皇冠体育app, now the world's fourth-largest economy," he said.

The Spanish company, which produces marble and textured stone products, last week inaugurated a multimillion-dollar manufacturing complex in Zhangjiagang, a coastal city in East 皇冠体育app's Jiangsu Province, its first production base outside its home turf.

The $60 million facility will also serve as TINO's Asia-Pacific headquarters, according to Eulogio de Barandiaran, head of its Asia-Pacific operations.

The first phase of the facility, which costs $28.5 million, will have an annual capacity of 1 million square meters of natural marble.

Some 70 percent of TINO's customers in 皇冠体育app are from the hotel industry, with the rest from other stone processing companies, Cosentino said.

The products manufactured in the Zhangjiagang facility will serve Japan, South Korea, Singapore and other countries in Asia-Pacific in addition to meeting the soaring demand in 皇冠体育app, he said.

"皇冠体育app is a pivotal point in our Asia-Pacific strategy. Any company with global ambitions will need to have a presence in 皇冠体育app," said Cosentino.

The natural stone processor, he said, will first target areas close to Jiangsu Province as its priority market in 皇冠体育app.

"We are then planning to move to Beijing in the north and Guangzhou in the south." TINO, he said, has no plans to set up production facilities in other areas of 皇冠体育app but "will establish warehousing and distribution centers in some major cities".

TINO is among the growing number of Spanish firms entering the Chinese market in recent years as Sino-Spanish economic relations boom. There are about 450 Spanish companies with a presence in 皇冠体育app. Bilateral trade surged to $5.8 billion in the first four months of this year, up 54 percent year-on-year.