Hangzhou Gearbox Form Joint Venture with French Partner
Resource from: cbcc-yinx Likes:2948
Dec 07,2006
Hangzhou Gearbox Form Joint Venture with French Partner
Recently, Hangzhou Advance Gearbox Group Co.,Ltd(HAG) has signed a contract with French Marson Company in Hangzhou to form a joint venture, Hangzhou Advance Marson Ship Transmission Co.,Ltd.
According to the contract, the joint venture will locate in Xiaoshan Economic Development Zone, Hangzhou. With registered capital of RMB30 million, the company will cost both parties RMB60 million. And HAG will invest RMB18 million, holding 60 percent of total shares; Marson, with investment of RMB12 million, take the rest shares.
The company will mainly deal with ship related parts like gearbox, adjustable propellor, transmission devices and other accessories for ship. Their designed annual capacity are 1500 sets.
With over a century's experiences in producing gearbox for ship, Marson Company has become the leading one for their design and manufactruing of ship gearbox as well as adjustable propellor in Europe and America. Moreover, they have had relatively sound sales network and post-sale service system there.
HAG, the largest ship gearbox producer in China, have incomparable advantages in performance/price ratio of their products. They have great potential in expanding sale of medium-end products in world market and entering high-end market.
According to analysts, by forming the joint venture, HAG can take advantage of Marson's sales network and post-sale service system, bringing their ship gearbox into the global market, expanding sales volume. Meanwhile, they could import advanced technologies from Marson, enriching their ship related products and technologies, especially those for adjustable propellor which is still a technical gap to be filled in China.
The officer from HAG announced their objectives placed on the joint venture: To employ advanced technologies and rational managing method; develop new generation of ship gearbox and adjustable propellor to suit the market; enhance technical content of products; make "Advance" brand more influential worldwide; make the joint venture well known for its ship related products; bring shareholders satisfactory economic benefit.
It is estimated that this joint venture will begin operation in 2007. Their annual sale are expected to hit RMB250 million and 70 percent of their products are produced for exporting.
(cbcc-yinx)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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