GENERAL: RAK: China Vice President visits Rakon

18 Jun 2010 8:30 am

RAK 18/06/2010 GENERAL

REL: 0830 HRS Rakon Limited

GENERAL: RAK: China Vice President visits Rakon

17 June 2010: China's Vice President Mr Xi Jinping visited Rakon's Auckland premises this afternoon.

Mr Xi Jinping received a presentation on Rakon and a tour of Rakon's Auckland design and manufacturing facility. Mr Robinson said "It was a privilege to host Mr Xi and discuss Rakon's business, our heritage and our success. We also discussed our current business and future development in China."

"We are shortly to begin building a new state of the art crystal manufacturing facility in Chengdu so it was a great opportunity to thank Mr Xi for the support we have received from the Chengdu authorities over the past 12 months and to show him the extent of our premises here in New Zealand."

Rakon already has a strong presence in China having in 2008 acquired 40% of Shenzhen and Chengdu based Timemaker the world's leading manufacturer of high performance quartz crystal blanks. Rakon also has representative offices in Shenzhen, Beijing and Shanghai to support what is Rakon's largest market. Over 50% of Rakon's annual global sales are made into China.

Mr Robinson said Rakon now has a small team in Chengdu and the new facility, which will begin construction next month, will significantly expand Rakon's capacity to meet the significant increase in demand for GPS into smart phones. End CA:00196238 For:RAK Type:GENERAL Time:2010-06-18:08:30:34

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