Area Officials Announce Strategic Partnership with Wanxiang America Corporation
FOR IMMEDIATE RELEASE
August 15, 2008
Regional government and economic development officials announced today the signing of a long-term Strategic Partnership Agreement with Wanxiang America Corporation. Wanxiang President and CEO Mr. Weiding Lu was also on hand to sign the agreement.
Through the partnership deal, Wanxiang America Corporation and the City of Rockford, Winnebago County, and Chicago Rockford International Airport agree to pursue the development of Wanxiang’s Photovoltaic Solar Panel Assembly Plant within the Rockford Global Trade Park.
“Our collective vision to create an aerospace and alternative energy education, research and development campus at RFD is accelerating with our growing relationship with Wanxiang,” said Mike Dunn, chairman of the board of commissioners for the Chicago Rockford International Airport (RFD) “The airport authority is eager to play a leadership role as an international model and economic engine in the production, demonstration, and transformation from fossil fuels to green technologies through a community sponsored and consolidated solar farm based at Freedom Field.”
The agreement also signifies a commitment to pursue future strategic business ventures in the areas of renewable energy, electrical vehicles, logistics and distribution, manufacturing, and air cargo towards building a long-term, mutually beneficial, strategic economic and business partnership.
“This partnership is a win-win for our region and Wanxiang America Corporation,” said City of Rockford Mayor Lawrence J. Morrissey. “I look forward to meeting with Chairman Weiding Lu in China this September to discuss further investment in the Rockford area.”
Wanxiang has been involved in various aspects of “green manufacturing,” including the production of photovoltaic solar panels and electrical vehicles throughout the world. The company is looking to expand its North American business by producing photovoltaic solar panels in North America, where it believes the market for green technologies is poised for rapid growth.
”It is our hope that this project with Wanxiang America Corporation is the first of many as we develop global partnerships in many areas, capitalizing on our regional airport and the Freedom Field concept,” said Winnebago County Chairman Scott Christiansen.
ABOUT WANXIANG AMERICA CORPORATION/WANXIANG GROUP
Wanxiang America Corporation is headquartered in the United States, does business globally with over $1 billion in annual sales, and is a subsidiary of the Wanxiang Group, a multi-billion dollar Chinese holding company, with diverse products and services including, but not limited to, manufacturing, financial services, and real estate development. The Wanxiang Group was founded in 1969, has over 45,000 employees globally, and is the second largest non-state-owned company in China with over $8 Billion in annual sales.
ABOUT THE RAEDC
The primary role of the Rockford Area Economic Development Council is to enhance wealth creation in the Rockford Region by marketing the area and helping employers retain and create quality jobs. The RAEDC works closely with many partners to serve as a one-stop resource for clients, to improve the competitiveness of the region, and to engage the community in the work of economic development.
FOR MORE INFORMATION
Janyce Fadden, President
815.987.8118
jfadden@rockfordil.com
http://www.rockfordil.com/
James Ryan
City Administrator
815.967.6780
jim.ryan@ci.rockfordil.gov