Recently, the Zhejiang Provincial Department of Science and Technology announced the 2021 list of international scientific and technological cooperation carriers. Among them, there are 6 overseas R&D institutions of provincial-level enterprises, and the GreatStar American R&D Center is on the list.
GreatStar American R&D Center focuses on the research and development of intelligent power tools, such as lubricating oil-free long-life automatic nail guns, super labor-saving one-handed nail guns, etc. Products are mainly sold to Fortune 500 companies such as Home Depot, Wal-Mart, and Lowe's. According to public information such as the U.S. Census Bureau, the National Home Improvement Institute, the National Association of Realtors, and Wall Street Research Reports, the product has nearly 60% of the market share of large supermarket chains in the United States, and nearly 38% of the market share in the industrial field, which is an absolute segment leader. Through R&D collaboration, the center strengthens the collaborative innovation of enterprises at home and abroad, and promotes the development of the whole industry chain of power tools and core technologies.
With this approval as an overseas R&D institution of a provincial-level enterprise, GreatStar will take this opportunity to base itself on the global market and strengthen the mechanism of innovation and R&D collaboration, supply chain collaboration and talent collaboration. In the future, GreatStar will accelerate its internationalization strategy, accelerate the construction of overseas R&D institutions and manufacturing bases, and further improve its global product R&D, production capacity layout and supply chain system.
