Greatoo Intelligent Equipment Co., Ltd. announced on Feb. 21 to invest 13.6 million euros to set up a wholly-owned subsidiary in Antwerp, Belgium.
The company aims to further develop the European market, accelerate its transformation toward smart manufacturing and deepen the development strategy of exploiting the Industry 4.0 equipment sector.
The firm expects to optimize the business deployment, expand marketing channel, and further enhance the market share and competitiveness in the domain of smart equipment on the basis of its Belgium subsidiary.
Before that, Greatoo Intelligent had set up two companies in Luxembourg and Frankfurt.
The firm believes that the major risks for setting up foreign subsidiaries are the differences in law, policy system, business environment and way of thinking between Belgium and China.
