Husky Injection Molding Systems Ltd. said July 4 that it is investing at least US$50 million (317.5 million Chinese yuan) in a new facility in China to meet growing demand for its beverage packaging and hot runner systems there. The Bolton, Ontario-based company said the new facility in Suzhou, Jiangsu province, would in its first phase of operation make large plates for its packaging and hot runner systems produced at its Shanghai regional headquarters and manufacturing plant, where it is running out of space. The company has signed an investment agreement with the government in Suzhou for 53,000 square meters (80 Chinese mu) of land in the Suzhou New District, and said in a July 4 statement that there is "significant opportunity for further expansion beyond the existing land area." The first phase is scheduled to open in mid-2014. Matts said the facility will be fully built out in several phases lasting four to five years, and the company is still evaluating the potential range of products, although he said it will be primarily a machining operation. He said the first phase investment will be between US$50 million (317.5 million Chinese yuan) and US$100 million (635 million Chinese yuan). The plates it will manufacture in Suzhou are currently imported from other Husky facilities around the world. Suzhou will help the company cut lead times and respond to customers faster, Matts said. Husky also has manufacturing facilities in Canada, the United States, Luxembourg and Austria.