Sino-US equipment joint venture launch in Beijing

Beijing, Dec 22 (Asia Pulse) - The Beijing Besser Jinyang Equipment Manufacturing Co., Ltd., a joint venture between the US Besser Company and Beijing Jinyangxin Building Materials Co., Ltd. was founded recently in Beijing.

With a registered capital of $US5 million, the joint venture is designed to have investment of 4US10 million for the first stage of construction. The US side will have 60% of the stake in the form of cash and patent technologies and the Chinese side the remaining 40%. The joint venture, with an operating term of 25 years, will produce and sell concrete block production equipment and provide related technical services.

The first phase of construction is expected to form a production capacity of 24 production lines a year in three years' time. Upon completion, the general assembly factory of the joint venture is expected to have an annual production capacity of 100 production lines.