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A leading German vacuum company has chosen Hong Kong as the base for its regional sales office, which will cover Mainland China, Hong Kong and Taiwan.

Pfeiffer Vacuum Technology AG is one of the multinational companies that set up a regional office here recently.

The Managing Director of Pfeiffer Vacuum Asia Ltd, Dr Qian Feng, met the Director-General of Investment Promotion, Mr Mike Rowse today (May 5).

Dr Qian said Hong Kong was an ideal base for Pfeiffer.

"Hong Kong is a superb geographical location with an efficient and modern communication network. Its simple tax system with a low rate, clear regulatory framework and absence of restrictions on capital flows were major attractions for Pfeiffer," he said.

"Hong Kong is the perfect place for us to do business," he added.

Mr Rowse welcomed the company's decision to set up a regional office here. He is the head of Invest Hong Kong, a government department charged with attracting foreign direct investment into Hong Kong.

He said: "Pfeiffer's choice reflects the importance of Hong Kong's role as a gateway to China, and its advantages as an international business city."

Mr Rowse endorsed the company's long-term plans to expand the Hong Kong office into a regional headquarters.

"This would be a logical move considering Hong Kong's unique advantages as the business hub in the region," he said.

Pfeiffer Vacuum Technology AG has 12 branches worldwide and more than 20 global sales agents, with a turnover of US$164 million in 2000.

Pfeiffer invented the world's first turbo molecular pump in 1956. It also produces various kinds of vacuum pumps, vacuum gauges, leak detectors, valves and installations, gas analysis instruments as well as coating machines.

End/Saturday, May 5, 2001

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