Fischer Tech sets up China subsidiary

SPECIALIST manufacturer Fischer Tech Group has set up a wholly owned subsidiary, Fischer Advanced Technology (Suzhou) Co, in China.

The subsidiary, which has a registered capital of US$15 million, will manufacture and sell precision plastic injection moulds and products for the automotive, electronics and consumer products industries, mainboard-listed Fischer said in a Singapore Exchange filing on Monday.

Its other products and services will include two-colour injection moulds, high-precision injection moulding, laser marking, decorative finishings and sub-assemblies for engineering components.

The setting up of the subsidiary "is not expected to have any significant effect on the consolidated net tangible assets per share and consolidated earnings per share" of the group for the financial year ending March 31, 2017, the company said.