Weihe Ocean Engineering Equipment Co., Ltd and Manabe Zoko Co., Ltd successfully signed the cooperation agreement on August 18, 2012 in the meeting room of Weihe, which will strengthen the cooperation between both parties, and setting up the pattern in which both sides hand in hand and create a win-win situation, so that we can create a broader room to grow.
From Feb. 1, 2012, Weihe and Manabe had several rounds of consultations, and finally made a agreement today. Both sides decide that the Japanese Party will invest 60 000 000 RMD and form a Joint Venture, in which the Japanese party holds 55% shares, and Weihe had 45% shares. The joint venture will rent several workshops and manufacture equipments from Weihe, and the rent period will be ten years. The joint venture will be well prepared for first-phase preparations, and operate formally in 6 months counting from the day both sides signed the agreement. The joint venture will integrate the resources from both sides, and form the Resources Repairs with each other. The joint venture will take advantage of the advanced manufacturing technology from MANABE, and the broad marketing channels from WEIHE to start its manufacture and sales.
During the consultation, we’ve received the concerns from government department and many related shipyards. Qin Yan, Director of Industry of National Defence in Jiangsu Province, Chen Mengwei, Department Head of the office, Zhang Rongqiang, Deputy General Manager of CCS, Ge Biao, Factory Director of CSC Jinling Shipyard, Xu Gang, General Manager of SUMEC Marine Co., Ltd had a meeting with Mr. President Mitsuo Manabe in Nanjing. We firmly believe that with the support and caring from the government and shipyards, the joint venture can have a high - speed development of the fast lane
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