(Yicai Global) Jan. 16 -- Hanhe Cable plans to set up a sales unit in Dubai so it can export its specialty cable products to the Middle East.
The Qingdao-based firm will invest USD300,000 in the subsidiary, it said in a statement on Jan. 14.
The new company will sell high-voltage and ultra-high-voltage cables and accessories to penetrate the Middle Eastern market and neighboring regions, the statement added, saying Hanhe will acquire related technologies and build up an international presence via the overseas arm.
Hanhe will also gradually build a marketing network spanning Western Asia to help increase export sales volume, the firm said.
Editor: James Boynton