10:54 PM EST, 02/22/2022 (MT Newswires) -- Kiddieland International (HKG:3830) said its proposed joint venture intends to build eight production lines in China and set up its headquarters in Meizhou City in Guangdong province.
The manufacturing base will be located in Huizhou, another city in Guangdong, according to a Wednesday disclosure.
The JV will also set up sales points in major Chinese regions such as Dongbei, Huabei, Huadong, Huazhong, Xibei, Xinan and Huanan.
The toy manufacturer previously said it will invest 30 million yuan ($4.7 million) for a 75% stake in the JV that will develop educational equipment products.
Kiddieland said the deal allows it to foray into a new market as its core business of toy production and distribution has been affected by the "international market downsizing" of toy orders from China due to the pandemic.
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