Hangzhou Machine Tool Acquire Abaz&b
Founded in 1898, Abaz&b is one of the 4 largest grinding machine manufacturer in Europe. Hangzhou Machine Tool Group Co.,Ltd is the Top 10 enterprise in Chinese machine tool industry.
According to the HMTG, they will setup R&D center in Germany to coordinate with their China-based institute. For the Germany party, they hope that their products could enjoy increasing popularity in China, even Asian market through this strategic collaboration with HMTG. Additionally, both party have showed interest in forming a joint venture in China. It is reported that the prospective joint venture will target middle end market.
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