Finnish firms announce ventures in China
Finnish companies Efore and Metso are forming partnerships and delivering heavy machinery in China.
First to Efore, which is planning a joint venture in China and has signed a letter of intent with a Chinese power supply partner. The Finnish company is looking to separate its telecom business and reorganise it into a subgroup under its fully-owned Chinese subsidiary Efore (Suzhou) Electronics.
The Chinese partner would then invest in the subgroup, with an option to take over as majority shareholder from Efore at a later stage. Efore seeks to ensure long-term profitability, strengthen its credibility amongst large customers in particular and grow the volume of its telecom business with the move.
The extensive collaboration would encompass, among other things, increasing R&D activity, expanding the product portfolio and global customer base, and growing the sales and marketing and project management efforts.
The letter of intent is not binding. However, the objective is to implement the arrangement in the first quarter of 2019.
The on to to Metso, which has received orders for a total of seven M&J 4000S shredders from three waste incineration customers in China. The 4000 shredder series is suitable for a vast array of incoming material and extremely resistant to wear, even from materials such as solid steel, reinforced concrete and rocks. In addition, the machinery will be supported by an extensive range of services from Metso, such as parts services, maintenance and tailored field services.
The new shredders will operate in the Zhejihang, Jiangsu and Xinjiang provinces of China, with deliveries set to be completed in the first quarter of 2019.