Harman Invests $100M More In China

NEW YORK (AP) -- Global audio and entertainment products maker Harman International Industries Inc. said Monday it plans to invest $100 million to boost its manufacturing and research capabilities in China.

The company invested $75 million to start up its manufacturing and research operations in Shanghai, Suzhou and Shenzhen between 2007 and 2008.

With the new investment, Harman plans to create two new manufacturing operations in Dandong, a city in Northern China that borders North Korea.

"Harman is positioning itself to capture a growing share of China's continued expansion in automotive, professional and consumer audio products and services," said Dinesh C. Paliwal, the company's chairman, president and CEO, in a statement.

Harman is based in Stamford, Conn.

Shares of Harman rose 92 cents, or 2.7 percent, to $35.25 in late morning trading. The stock has traded in the 52-week range of $28.10 and $53.36.

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