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Little Swan to launch new washing machine plant in Wuxi

Published: 28 Oct 2009 01:26:46 PST

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Oct. 28, 2009 (China Knowledge) - Wuxi Little Swan<000418>, a Jiangsu-based washing machine maker, will hold an opening ceremony for its new facilities in Wuxi New District tomorrow, sources reported.

The new facilities, which cost RMB 550 million, will be able to output 4.1 million washing machines.

Wuxi Little Swan said in a statement filed with the Shenzhen Stock Exchange that it will invest an additional RMB 100 million in the facility, which currently has a floor area of 240,000 square meters.

It is expected that Wuxi Little Swan will ultimately have 10 washing machine production lines, together capable of producing 5 million high-end washing machines per year.

The firm's total revenue for the third quarter of this year was nearly RMB 1.02 billon, up 1.55% year on year, whereas its net profit jumped 46.24% year on year to RMB 68.46 million during the period, according to sources.