On December 4, Festool China signed a contract to set up headquarters in Jintan Economic Development Zone. The total investment of the project is 20 million Euros, which is the 25th German-funded project introduced by Jintan in recent years.
Established in 1925, Festool is a world leading manufacturer of electronic power and air tools with headquarters in Wendlingen, Germany. For years, many of Festool’s machines and accessories have been receiving awards, including the iF Product Design Award – such as the FS guide rail, TSC 55 plunge-cut saw or, currently, the SYSROCK radio. Festool achieved sales revenues of 750 million euros in its fiscal year 2018, with subsidiaries and distribution centers located in 68 countries.
In order to meet the needs of the Chinese market, Festool decided to build a production, R&D and logistics base in the Sino-German (Jintan) Innovation Industrial Park, with a total investment of 20 million euros, which will start the logistics business in 2020. At the same time, Festool China will relocate its current business in Shanghai and set up headquarters in Jintan to increase the overall production and R & D capacities. After putting into production, the annual sales of the Jintan base will reach 500-700 million yuan.
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