(Yicai Global) Oct. 29 -- Chinese molding equipment maker Tederic Machinery will invest USD2 million in Mexico to set up a marketing and customer service center for North America, it said in a statement yesterday.

The company's shares [SHA:603289] closed up 1.78 percent at CNY10.31 (USD1.46) this morning on the announcement.

Tederic will register a wholly-owned unit in the central city of Guadalajara, about 500 kilometers west of the capital Mexico City, to set up the center, said the Hangzhou, Zhejiang province-based manufacturer and seller of plastic injection molding equipment.

The subsidiary will buy local buildings and use them as logistics transfer warehouses and marketing service centers to provide local services, the company said.

The investment will help Tederic cultivate and service its North American clientele, respond quickly to customer needs, further enhance the firm's brand awareness in the region, expand sales channels and resources, and lift its overseas market share, per the statement.

Editor: Ben Armour