Tongfang (THTF) to create 70 jobs in Port Talbot
- 21 July 2014
- From the section Wales
One of China's largest TV manufacturers hopes to create 70 jobs after opening its European manufacturing headquarters in Port Talbot.
Tongfang (THTF) has invested £1.6m in its plant at Kenfig Industrial Estate.
The company says it has created 45 jobs since installing assembly lines in April, and hopes to create another 25 by October.
First Minister Carwyn Jones said the Welsh government had been targeting China's "massive" investment potential.
THTF is part of Tongfang Global, which has its headquarters in Hong Kong and has the largest TV manufacturing facility in northern China, employing 1200 people.
It is one of 79 foreign companies to invest in Wales in the last year, representing the highest level of inward investment for nearly 25 years.
Mr Jones said: "China is a major market with massive inward investment potential and a market Wales has been targeting diligently through business and cultural visits, trade missions, business links and trading agreements.
"It's good news to hear it is creating jobs well ahead of schedule and finding Wales a great location for its new base."
Philip Jones, director, THTF UK , said: "Tongfang Global already supplies a number of key retailers in the UK from China and having this facility in Wales means we can offer our customers a much better service with shorter lead times."
The Welsh government provided £600,000 of business finance towards the project.