Guangzhou Machinery Institute and Morgan Engineering Company Form Joint Venture

Resource from: CBCC Likes:3035

Oct 10,2005

Guangzhou Machinery Science Research Institute and American Morgan Engineering company have reached a joint venture agreement on establishment of Guangzhou Morgan Seal Co.,Ltd recently. Senior engineer Daniel Morgan, vice president of American Morgan engineering company signed the contract with Mr.HuangXing, the director of Guangzhou Machinery Institute. They both own equal shares of the new business and total investment reaches RMB 3 million. It is known that based on the strategy that develops the seal into a large-scale and competitive industry, Guangzhou Machinery Science Research Institute will select 4 leading products gradually. They will cooperated with the well-known enterprise abroad, introduce advanced technology abroad, innovate the technology, and gradually enlarge production scale to create the favorable condition to achieved sales of 200 million. Morgan Engineering Company is one of the three famous manufacturers of the rolling mill bearing film oil in the world. The Morgan brand enjoys a high reputation in metallurgy field. After cooperation, the product quality and enterprise management can be improved and global competitiveness will be increased. Additionally, the influence will be expanded with the brand of Morgan and its products will possess over 70% of the national market This company will establish a new specialized workplace. It mainly deal with seal manufacturing, processing, and restoration, selling their own products and offering technology and after-sale service. Sales are expected to reach ¥ 8 million in the first year of operationsand ¥ 2000 million 3 years later. .

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