Sumitomo Bakelite, a leading Japanese manufacturer for semiconductor related products and circuitry material is going to invest 23 million US Dollars in Macau, it was announced today.

The company's Macau subsidiary will set up a production line which will start the commercial production of epoxy resin copper clad laminates at the beginning of 2003. It will be the largest sole Japanese investment in the SAR.

Epoxy resin copper clad laminates are widely used as substrate of printed wiring board for personal computer, information technology devices. The demand for the product is growing significantly in Asia.

Sumitomo Bakelite said the company decided to invest in Macau since the SAR was "a good logistics" for South China market with "good incentives and stable infrastructures."

Secretary for Economy and Finance, Francis Tam Pak Yuen welcomed the decision of Sumitomo Bakelite, saying that the project would "encourage the SAR's development in the IT industries."

Sumitomo Bakelite Co. Ltd., which is considered pioneer of plastics in Japan, is currently manufacturing a variety of synthetic resins and resin products for a wide range of applications in electric and electronic, information communications, automobile, medical equipment, packaging and construction. The company has adopted ecological policies in production since 70's.