Gestamp opens $56m production facility in Tianjin

Gestamp Automocion SA, a Spain-based multinational in vehicle components, has strengthened its presence in China by opening a new 50 million euros ($56.58 million) production facility in Tianjin.

At the opening ceremony on Thursday, Gestamp Executive Chairman Francisco J. Riberas said that China is "the most important priority" of the firm's globalization strategy, adding: "We are fully committed to bringing the latest technologies to the Chinese automotive market in order to make lighter and safer cars."

The new plant, Gestamp Auto Components (Tianjin) Co Ltd, brings Gestamp's China count up to 11 production facilities and 2 research and development centers.