国产人人色I色婷婷综合久久中文字幕雪峰I奇米色777欧美一区二区I久热久热aV爽青青在线I国产av喷水I国产伦精品一区二区三区免.费I高潮av在线Iww欧美一级I91天天看I黄a在线91I九一无码中文字幕久久无码色…I丰满国产精品视频二区

Economy

Markets

Industries

Insights

Reports

Events

Construction machinery giants plan joint venture

By Tong Hao (chinadaily.com.cn)
Updated: 2008-12-17 18:25

Xuzhou Construction Machinery Group (XCMG), China's largest construction machinery maker, plans to set up a joint venture with Korean counterpart Doosan Group to produce heavy machinery engines, a senior company official said.

The joint-venture, in which XCMG will hold a 51 percent share and Doosan 49 percent, is expected to be established in the first half of 2009 if talks between the two sides proceed as planned, China Business News reported, citing Zhang Yuchun, XCMG's deputy manager.

The first phase of the project, which is designed to produce 4 to 8-litre heavy engines, will cost 500 million yuan, Zhang said.

The venture will be based in Xuzhou, Jiangsu Province, where XCMG is located.

Doosan Group, 80 percent of whose sales are comprised of construction machinery, engines and other engineering businesses, is the 9th largest financial group in South Korea.

XCMG recorded sales of 35.2 billion yuan during the first 10 months of 2008. Despite the financial crisis, Zhang is confident that XCMG will achieve the 40-billion-yuan ($5.84 billion) objective by the end of the year.