Shanghai Felio Acoustics (Felio) rebutted misleading reports claiming its affiliated company INESA is building a new LED plant in France that could create 200 to 300 new jobs in the country.

According to a report from French media Le Croix, the plant to be built in the Meuse region in France in late 2017 will be the first LED factory the group constructs overseas, and is expected to enter operations by 2018. Based on the report INESA had invested more than EUR 100 million (US $111.66 million) in the plant.

French Prime Minister Manuel Valls attended the plant’s opening ceremony and spoke with INESA representatives on March 21, 2016.

Other French media and Chinese media reports from sources including  HC360.com claimed INESA plans to acquire other companies in Europe, and expand its workforce in the continent to 12,000 to 15,000 employees.

Felio has refuted these reports. The company President Shenan Zhuang and INESA CEO Qi Meng Zhaohad attended a R&D center opening ceremony at Meuse province in France, but did not disclose plans or financial details of any new LED bulb plant to be constructed in the region. The statement explained it had not signed any investment agreements with local government officials or vendors. The opening ceremony of the R&D center should not be interpreted as an actual investment deal, the statement added.

The company noted though, its wholly owned subsidiary Beijing Shenan Lighting (申安照明) signed an energy efficient lighting agreement with French electronic group Arelis at the Great Hall of the People in Beijing on Jan. 29, 2015. The two companies representing the Chinese and French government agreed Shenan Lighting would invest EUR 100 million to build a LED production and R&D center in Meuse. The Meuse government in partnership with the central French government would upgrade to more energy efficient lighting by investing in total EUR 3 billion in the form of Energy Management Contracts (EMC) in more than 20 cities over the next five years.

INESA also rebutted any plans of employing 12,000 to 15,000 workers in France, or plans to acquire new companies. The company stated related reports have been misleading.