Danish toy company Lego on Monday unveiled
plans to build a factory in China to supply its growing market in
Asia.
The facility in the city of Jiaxing, about 100 kilometres from
Shanghai, would employ 2,000 people and be operational in 2017, the
company said.
Building work was due to begin next year, Lego said.
"It is our strategy to have production close to our core markets in
order to secure short lead-time," Lego executive Bali Padda said.
Currently, the group has production facilities in Denmark, the
Czech Republic, Hungary and Mexico.
Lego said it estimated the new plant would be able to provide
between 70 and 80 per cent of the products it sells in Asia. Sales in
the region have in recent years increased by over 50 per cent a year.
The group reported a full-year net profit of 5.6 billion kroner
(969 million dollars) for 2012, topping its own expectations.
The annual net profit compared to 4.16 billion kroner for 2011.
