As the largest wooden-based toy manufacturer in the world and a leader in the educational toy segment, Hape is planning to upgrade its factory located in Ningbo, China. To enable this, DEG (German Investment and Development Company) has granted 10 million USD to the initiative, which includes updating the current production facilities and further optimising the production processes.
The contract was signed by both parties at the toy fair in Nuremberg on January 31st , 2020, symbolising the dawn of the bilateral cooperation.
Peter Handstein, founder & CEO of Hape, spoke highly of this new relationship: “The investment to our factory in Ningbo aims to build a better future for our children. With DEG joining the efforts, we are able to plan for a longer-term expansion of our production capacities, especially the production line of eco-friendly toys. We shall not only repay DEG with profit but also bring children all over the world a greener place to live in and support them in their personal development. "
Monika Beck, a member of the DEG management board, also gives complimentary comments after the signing of the contract: “We are pleased to deepen cooperation with our long-standing customer Hape. We feel obliged to support companies that seek to produce sustainable products with environmental and social responsibilities. ”
Referred from https://hapetoys.eu/de-de/nachrichten