Ninestar to Manufacture Laser Printers

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Reuters reports that Ninestar says it plans to sign an agreement for a laser-printer manufacturing factory to be located in Zhuhai, Chain.

The company says it plans to invest about 9.0 billion yuan (about $1.43 billion) in the project.

The proposal calls for Ninestar setting up a project company. Once the company enters production, Ninestar hopes to achieve an annual output of “approximately 4 million units,” with an annual output value of approximately 20 billion yuan ($3.1 billion), with annual tax revenues of about  500 million yuan ($79.4 million).

Ninestar’s new initiative is said to be in response to the Chinese’s government’s “Made in China’s” policy. The Made in China plan, announced in 2015, calls for China’s government to funnel billions of dollars into developing and acquiring advanced technologies in fields such as artificial intelligence, robotics, biopharmaceuticals, new energy vehicles, and aviation, according to NPR.

This wouldn’t be the first laser printer marketed under the brand name of a Chinese company. Several years ago, Pantum, which is owned by Ninestar, introduced monochrome low-end laser printers, which are available in China, the United States, and other countries

In 2016, Ninestar (then called Apex Technology) and a consortium of investors acquired Lexmark International for $3.6 billion.

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