Italy's cooling firm LU-VE expands China plant in data centre business boost
03/12/2024 15:26
MILAN, Dec 3 (Reuters) - Italian cooling systems maker
LU-VE LUVE.MI has expanded its Chinese production hub to meet
growing local demand for refrigeration equipment for data
centres.
Located in the city of Tianmen, part of China's central
Hubei province, the expanded plant will cover an area of over
43,000 square meters, more than doubling the previous size,
Milan-listed LU-VE said in a statement.
The plant expansion was part of a state-backed programme
aimed at stimulating foreign investments in the internal and
western areas of China, said LU-VE, adding the facility
benefited from tax breaks, cheaper energy and rent costs.
LU-VE president and Chief Executive Officer Matteo Liberali
said the expansion will help the company to increase its role in
the fast-growing Chinese data centre market.
"We have started a two-year supply programme with one of the
major local operators, while other negotiations are under way,"
the executive said.
(Reporting by Elvira Pollina
Editing by Keith Weir)
((elvira.pollina@thomsonreuters.com;))