Liugong and Cummins announce further injection of Guangxi Cummins
On March 29, 2016, Liugong and Cummins formally announced that they will jointly invest RMB 240 million in its joint venture, Guangxi Cummins Industrial Power Co., Ltd. (hereinafter referred to as Guangxi Cummins), for the key capacity building and products of the joint venture company. And technical reserves. The new investment will be borne by the joint venture parties in equal proportions. While increasing investment, Guangxi Cummins will further coordinate the use of Cummins's overall capacity and key capabilities in China to strengthen its supply chain cooperation with its affiliates to further optimize manufacturing efficiency and reduce operating costs. At the same time, it will intensify efforts to enhance the engine's entire value chain system from R&D, manufacturing, quality, market, and after-sales, and further create the unique competitive advantages of Guangxi Cummins products in the market to create greater value for customers. Huang Haibo, vice president of Guangxi Liugong Machinery Co., Ltd., said: “This capital increase fully reflects the confidence of both parties in the healthy development and future prospects of Guangxi Cummins. The development of Guangxi Cummins will inject new energy and help to further stimulate joint ventures and cooperation. Win-win advantage." Wang Ning, vice president of Cummins Inc. and general manager of joint venture operations of China's engine division, stated: "By linking Cummins's overall manufacturing capabilities, technology reserves and scale advantages, Guangxi Cummins will support Liugong with more competitive products and technologies. And other customers have made greater breakthroughs in the domestic and global markets." Cummins Guangxi is Cummins' first joint venture focused on producing off-highway engines in China. The partnership between Liugong and Cummins brings unique advantages to the joint venture: the application of top-level engine technology to the world's leading engineering machinery OEM. Since it was put into operation in 2013, Guangxi Cummins successfully introduced L9.3, QSB7 and QSL9.3 third-phase products to the market, and the brands and products have gained market recognition. With the implementation of the three standards of non-highway countries nationwide, Guangxi Cummins has more obvious advantages in its products and technologies, and has the ability to further expand the market for packaging. Spirit Level,Aluminum Spirit Level,Scaffold Spirit Level,Magnetic Spirit Level NINGBO LUBAN ELECTRIC POWER TOOLS CO.,LTD. , https://www.aye-group.com
Liugong and Cummins will jointly invest 240 million yuan for their joint venture Guangxi Cummins