Disk-drive maker to build facility in China

MARCH 3–SINGAPORE — Disk drive maker Maxtor Corp. will break ground in mid-March on a new manufacturing facility in the Suzhou Industrial Park in Suzhou, China.

At approximately 800,000 square feet, the new facility, which is expected to be compled in the second-half of 2004, will allow the company to accommodate its anticipated future growth.

Maxtor has agreed to invest up to $200 million in the China facility over the next five years.

“Establishing a manufacturing facility in China is a strategic step in Maxtor’s evolution as a company,” said Paul Tufano, president. “This investment will provide the company with a low-cost option to accommodate growth of our hard drive business over the next decade.”

He added that Maxtor is committed to its Singapore operation and will use a phased approach to bring production into the new China facility.

“Singapore will remain the center of Maxtor’s manufacturing operations,” added K.H. Teh, executive vice president of worldwide manufacturing and Singapore managing director for Maxtor. “

The China facility will focus on the manufacture of desktop hard drives, a portion of which will be for the domestic market. The Singapore facilities will continue to produce high-end desktop and server drives.


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