(Yicai) Oct. 31 -- Power equipment maker Eaglerise Electric & Electronic China said it will invest as much as USD86 million in its Los Angeles-based unit to build a new energy transformers factory in Mexico as a way of getting closer to its North American clients.

The digital factory, to be located in Saltillo, Coahuila state, will have a high automation level and mainly make new energy products, Foshan-based Eaglerise announced late yesterday. It has a scheduled construction period of two years, the firm added.

The investment funds will be used for buying land, production and information technology equipment, building the plant, and other related needs, Eaglerise noted.

Eaglerise’s new energy transformers are mainly used in solar power generation systems and charging piles for new energy vehicles. It has set up units in major photovoltaic markets in the United States, Japan, and the European Union.

Eaglerise’s overseas business income accounted for nearly 35 percent of its total CNY2.2 billion (USD304.8 million) of revenue in 2021, it said earlier on the stock exchange’s investor interaction platform.

Net profit jumped 15.6 percent to CNY165 million (USD22.6 million) in the nine months ended Sept. 30 from a year earlier, Eaglerise noted in an earnings report released yesterday. Revenue climbed 23 percent to CNY2.5 billion.

Shares of Eaglerise [SHE: 002922] ended unchanged at CNY14.30 (USD1.95) apiece in Shenzhen today, after earlier swinging between a gain of 1.6 percent and a drop of 0.6 percent. 

Editor: Martin Kadiev