Chinese Development Group purchases 54 acres in Mt. Pleasant
Shanghai-based China SINB Group recently purchased 54 acres of land along Highway 11 in Mt. Pleasant in Racine County.
SINB is a diversified holding company that is comprised of several units, including heavy steel industry, heavy equipment manufacturing, property development, deep water port development, international trade and financial investment.
The company has not announced specific plans for the property in Mt. Pleasant, but the site could provide a base for SINB’s business units in North America. Alternatively, the Company is considering further development of the site as a business park.
In addition, the company’s president and chairman of the board, Wanming Chi plans to purchase a home and establish a personal presence in Racine County.
The Mt. Pleasant property will be the company’s first development project in North America. The company’s current investments include projects in several cities in China and Europe.
“The Village is thrilled to welcome SINB to Wisconsin and Mount Pleasant and we are anxious to work with them on their development plans proposed for 2010," said Mt. Pleasant administrator Mike Andreasen.
“SINB recognized Racine County’s strategic location in the Chicago-Milwaukee Corridor as an opportunity to serve customers throughout the U.S. and North America," said Racine County Executive Bill McReynolds. "I am pleased to welcome them to Racine County.”
The Racine County Economic Development Corporation (RCEDC) and Mt. Pleasant staff, were contacted for assistance several months ago by the SINB’s local agent LGO Global Sourcing. Located in Racine, LGO is an international agent that assists its customers in locating cast and forged products, ferrous and non-ferrous materials, stampings, wood products and hardware.
“The SINB project is a part of RCEDC’s strategic business growth programs," said Jenny Trick, deputy director of the RCEDC. "We are seeing a growing interest by Chinese investors in the marketplace that we hope will lead to alliances that will create new jobs in Racine County.”
More information about SINB Group is available at: http://en.sinb.com/main.html