OREANDA-NEWS. September 28, 2011. A cooperation agreement was signed by Hefei Municiple Government and Lenovo Group on Sep.27. According to the agreement, Lenovo will invest to establish a factory in Hefei Economic and Technologic Develpment Zone. Vice governor Ni Fake delivered a speech on the signing ceremony. Yang Yuanqing, CEO of Lenovo Group and Zhang Yongqing, vice president of Compal Electronics attended the ceremony.

Ni Fake pointed that Lenovo and Compal's investment in Hefei is another key project in the Indepent Innovation Comprehensive Experimental Zone among Hefei Wuhu and Bengbu. The government will give strong support and provide well service to creat a good investment environment for the project.

Lenovo is among the top five fastest growing computer manufactures in the world and its sales revenue in China has been ranking the first since 1997. In the second quarter of this year, Lenovo has surpassed Acer and become the third largest personal computer manufacture in the world. Compal Electronics is the No.1 notebook ODM company and producted 48 million notebook created a sales revenue of 28.2 billion US dollars in the last year. The two companies
' investment will greatly help Hefei build it as a well-known household electronics industry base.