Topcon Establishes New Joint Company in China to Increase Manufacturing CapabilityNew Company to Expand Positioning Business in China and Other Emerging Markets
Topcon Corporation (TOKYO:7732)(ISIN:JP3630400004) announces that it has entered into an agreement with Beijing Topcon Business and Trade Co., Ltd. (BTBT) to establish a new joint company in China.
In 2004, Topcon Corporation and BTBT, an exclusive distributor of Topcon products in China, jointly formed Topcon (Beijing) Opto-electronics Corporation, a manufacturing firm in Beijing, on which the new joint company is based.
The new company, Topcon (Beijing) Opto-electronics Development Corporation, will be jointly owned by Topcon Corporation, BTBT, and Topcon Positioning Systems, a wholly-owned US subsidiary of Topcon Corporation.
The new company will begin operation after completing registration procedures which is anticipated to be in July 2010.
Demand for the positioning instruments in China is expanding along with increasing infrastructure constructions and modernization of the geographical information databases. The new joint company will manufacture the GNSS receivers in addition to the existing optical product lineup, including GOWIN brand total stations, primarily sold in Chinese and other emerging markets.