Oboya establishes innovation and technology center in China
Oboya Horticulture Industries AB (publ) has recently through its wholly owned subsidiary Oboya Metal Products Co. Ltd. ("The Company") received a state-owned innovation contribution of approximately 300 TCNY, equivalent to approximately 348 TSEK, to establish an innovation and technology center at the company's premises in Qingdao, China.
Innovation contributions are awarded to various Chinese companies each year, which promote scientific and technological innovation in China. The aim is to strengthen the country's technology-based companies as well as improve the ability of their own innovations in the country. Through the state contribution, the company will establish an innovation and technology center at the company's premises in Qingdao, China. The purpose of the Innovation and Technology Center is to conduct research and development (R & D) and to develop new innovative product solutions aimed at modernizing and digitizing the Chinese cultivation industry.
The Oboya Group has grown significantly in China since 2006 and new investments are necessary in China for continued growth. The new center is part of the strategic investment in China, and the goal is to strengthen innovation capacity which will be a key to building our brand in the Chinese market.
For more information, please contact:
Robert Wu, Chairman of Oboya Horticulture Industries AB (publ)
Tel: + 46 (0)735 63 09 35