Monday, May 19, 2003
Motorola Inc. said it will establish a new research company in China at the cost of $90 million and plans to invest $500 million over the next five years on equipment and other operations at the planned Chinese subsidiary.
Mike Zaffirovski, president and chief executive of the Schaumburg, Ill., company, announced the proposed investment on Saturday in Beijing but did not provide additional details on what the new research unit will focus upon.
Zaffirovski was in Beijing to present a check for $1.4 million to the Chinese government's anti SARS campaign.
Motorola and its employees contributed the money to help China fight the outbreak of SARS or Severe Acute Respiratory Syndrome.
The viral disease has infected thousands, killed hundreds of people and disrupted economic activities in some parts of China and other locations throughout the world.
"China is an important market for Motorola worldwide as well as a manufacturing base and research center for the company," Zaffirovski said, in a statement. "My presence here demonstrates both Motorola's concern for its employees as well as our confidence in China's ability to fight the spread of SARS."
By: DocMemory
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