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German company relocates its global headquarters to Jiaxing

chinadaily.com.cn| Updated : May 31, 2021

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An inauguration ceremony for the global headquarters of DewertOkin Technology Group Co Ltd is held in Jiaxing on May 28. [Photo/cnjxol.com]

The new global headquarters of DewertOkin Technology Group Co Ltd in Jiaxing, East China's Zhejiang province, was unveiled on May 28, local media reported.

The company's global headquarters was previously in Europe.

"We have moved our departments of global financial management, global research and development (R&D) management, and global business development and strategy to Jiaxing," said the president of DewertOkin at the ceremony.

He noted that the Jiaxing headquarters' sales volume is expected to reach more than 5 billion yuan ($785.46 million) in 2025.

DewertOki will also be transferring 500 international patents and intellectual property rights to its Jiaxing subsidiary and it currently owns more than 1,500 patents. The company will use Jiaxing as its first launch market for its new products.

DewertOki will also employ a slew of overseas high-level professionals to create a national laboratory and a global R&D center in the city.

Established in 1982 in Germany, DewertOkin is the largest manufacturer for linear actuator and related hand controls in the world, and serves more than one fifth of smart furniture manufacturers.

In 2020, the company's sales volume exceeded 2.5 billion yuan, ranking first among its counterparts in the world.

In the future, the company will shift its focus to massive health-related projects and produce intelligent beds integrating sensor technology and artificial intelligence for hospitals.