KF Valve Co. Starts Operation in Loufeng Township
The opening ceremony of Suzhou KF Valve Co., Ltd. was held on May 18 in Loufeng Township, SIP, with the presence of Yang Jianzhong, Deputy Secretary of CPC SIP Working Committee, and Bill Higgins, Vice-president and CEO of CIRCOR International Inc., USA.
CIRCO|R International Inc., current shareholder of Suzhou KF Valve Co., Ltd., is a listed group company at NYSE and based in Massachusetts, USA. Its market value amounted to 440 million USD by February 2006, and its sales in 2005 hit 450 million USD. Under the company are two major groups: instrument and thermo-control products group and energy product group, the latter being the third largest manufacturer of ball valves for petroleum and natural gas industry. KF Industries is a vital division under the energy group, of which Suzhou KF Valve Co., Ltd. is one of the five subsidiaries.
Registered in 1995, Suzhou KF Valve Co., Ltd. is a joint venture owned by CIRCOR Group and Suzhou Valve Factory with a registered capital of 20 million USD, of which the American side contributed 60% equity shares. Both partners are listed companies. By the end of 2004, CIRCOR Group acquired 40% of the shares of Suzhou Valve Factory and established the wholly-owned US-invested KF Valve Co., Ltd., which moved into a new plant in Loufeng Township, SIP, at the end of 2005. The first phase of the plant covers a constructed area of 12,000 square meters, and the 6,000-m2 phase-II is under planning. The company has imported advanced valve-manufacturing technologies from Korea, Japan and USA in designing and producing all types of industrial valves. Over 95% of the products are being sold overseas.
May 22, 2006