Sumitomo Electric Cemented Carbide (Changzhou) Corporation was approved in industrial and commercial registration. It is another large project of Japan Sumitomo Electric settling in Wujin.
Invested by one subsidiary of Sumitomo Electric Industries, the cutting tools manufacturing base is located in Wujin Hi-tech Zone. Its first-phase investment is USD 11.7 million and the total investment reaches USD 29.25 million. The investment amount in the future two years is expected to reach USD 50 million.
Founded in 1897, Sumitomo Electric has become one of Fortune 500 companies, with the registered capital of USD 1 billion and annual sales revenue of USD 20 billion. In recent years, Sumitomo Electric continuously increase the investment in Wujin district and set up two enterprises here, namely, Jiangsu Sumitomo KTK Rubber Co., Ltd. and Sumitomo Semiconductor Material (Changzhou) Co., Ltd.
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