Shanxi Datong Gear Group Co., Ltd. - Build a Brand New Big Tooth
On June 22nd, Shanxi Datong Gear Group Co., Ltd. entered into a strategic joint venture agreement with BLUECHIPENGINEERING, an Australian engineering technology company, during the 2006 (Shanghai) Economic Cooperation Project in Shanxi. The collaboration was the result of a series of promotional activities aimed at attracting foreign investment and fostering economic development in the province.
Shanxi Datong Gear Group is a leading manufacturer of heavy-duty automotive gearboxes and engine gears, producing high-quality, brand-name products that are well-known within the region. The company boasts advanced production facilities, state-of-the-art testing equipment, and modern assembly lines, supported by a strong technical team. On the other hand, BLUECHIPENGINEERING has over six decades of experience in the mining industry, backed by solid financial resources, skilled human capital, and innovative management practices.
The partnership came about through a smooth and successful process. In early April, representatives from the Australian company came across online investment promotion materials about Shanxi Datong Gear Group and became highly interested. They proactively reached out to the company for more information. After initial communication, the Australian team, led by Nick Voloskey, visited Shanxi in late May to inspect the operations of the factory. Upon reviewing the details, Mr. Voloskey expressed strong interest, and after discussions with Wu Zhenhe, Chairman of Shanxi Datong Gear Group, both parties quickly reached an agreement.
Taking advantage of the preferential policies for state-owned enterprise restructuring and investment promotion in Shanxi, both sides committed to fully implementing the joint venture strategy. Under the terms of the agreement, BLUECHIPENGINEERING will invest $200 million in cash, while Shanxi Datong Gear Group will contribute its existing assets to establish the joint venture. The new company will take over all non-retiring employees from the entire group, expand the product range of Shanxi Datong Gear Group, and introduce related products from BLUECHIPENGINEERING. The joint venture will retain the name "Shanxi Datong Gear Group," and the current management team will continue to lead the company. Employee employment decisions will be made by the joint venture itself.
This collaboration is expected to position the joint venture as a top-tier transmission manufacturing base in China and a globally competitive auto parts supplier. It marks a significant milestone in the development of Shanxi's manufacturing sector and strengthens international business ties.
Reporter: Xie Changmin
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