Newsight Imaging opens a WOFE Office in China

Ness Ziona, Israel, August 15, 2017: Newsight Imaging, a developer of advanced CMOS image sensors for laser LiDAR and spectral analysis, today announced the opening of a WOFE, ‘Wholly Foreign Owned Enterprise’ in the People’s Republic of China.

Registered under the local name of “Jiaxing New Vision Tech” the WOFE offices were set up in the China Guigu Science and Technology Park in Jiashan County, Zhejiang Province, a half‑hour high‑speed train ride from Shanghai . The China Guigu Science Park constitutes one of Jiashan County’s four economic and industrial bases.

Newsight Imaging has started recruiting talented engineers to provide technical and custom‑tailored support for its customers in China, and the WOFE will also serve as the main hub for all company’s operations in China.

The WOFE was established as part of Newsight’s ongoing efforts to support Chinese customers and assist integration of Newsight’s innovative chips in different product applications. This move came in conjunction with the appointment of DXY Technology as non-exclusive distributor for Newsight Imaging in China.

“We believe that how we support our customers is one of the pivotal factors in building a solid and successful business in China”, said Eli Assoolin, CEO and co-founder of Newsight Imaging: “The company treats its customers as partners and wants to be able to respond quickly to local market needs. Having in place a team of Chinese speaking engineers with extensive training in Newsight products who can study local customers’ needs is key to achieving growth and the best possible brand image in China”.

Dr. Li Likai, a Newsight Imaging board member, and Newsight WOFE Chairman, said: “Newsight Imaging has set up a WOFE in China to be closer to its PRC customers. We will establish a Newsight Joint Venture entity in China early next year, since Chinese industries have the greatest demand for Newsight products. Newsight will help China nurture global leaders in many industries, same as Israeli innovation has already achieved for many other worldwide industrial leaders during the last 40 years”.

Ms. Liping Yang, Executive Deputy Director of the Guigu Park commented: “Israeli company Newsight Imaging Ltd. possesses advanced technology and has a huge market in China. We are very pleased that they have set up their Chinese office in our China Guigu Science Park in Jiashan, and we will provide all the conveniences to assist their success.”