PMG Group builds new powder metallurgy parts manufacturing plant in Shanghai
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PMG Group, a joint venture between Plansee Group and Mitsubishi Materials, is building a 54,000-square-foot powder metallurgy auto parts manufacturing facility in Shanghai. Initial investment of 12 million euros (about 19 million US dollars). China Powder Metallurgy Business Network Exclusive Information The plant will become a new subsidiary of PMG, named PMG Shanghai Fengxian Co., Ltd., which will employ more than 100 employees, mainly producing powder metallurgy parts for automotive engines and chassis. PMG expects annual sales to reach 12 million euros after the completion of the first phase of the project. “Our customers play an important role in the growing Chinese automotive industry,” said Michael Krehl, co-president of PMG Group. “By providing them with locally produced powder metallurgy parts, they will be more successful.”