Trade Mission to Asia lands deal for T.O.|
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Hong Kong - Mayor Mel Lastman today announced CD manufacturer Viva Magnetics
will be building a 230,000 square foot plant in Toronto, thanks to on-going
negotiations finalized Monday at the company's Wong Chuk Hang Rd. headquarters.
"This is fantastic news for Toronto and a wonderful endorsement of our city,"
said Lastman, who closed the deal in a meeting with Viva's managing director,
Mr. Anthony K.Y. Choi.
"We are very excited to be expanding in Toronto," said Choi, predicting Viva's
new facility in the city's east end will open next summer and employ 300
people. A further expansion is planned for the fall of 2003.
He said the company's new operation will compliment Viva's existing facility on
Councillor Denzil Minnan-Wong, chair of Toronto's Economic Development
Committee, said he is optimistic that meetings held with another major Hong
Kong corporation will be similarly fruitful for the city.
"It's looking very, very positive," Minnan-Wong said of talks with a
multi-million dollar manufacturer which is eager to establish a foothold in the
North American market.
Viva's announcement marks the end of the first leg of the group's trade
mission. Lastman and Minnan-Wong will be meeting business leaders in Shanghai
tomorrow before joining Bob Fung in Singapore to talk to investors about