CW Group Holdings Ltd
CW Group Holdings Limited
To: Business Editor / Reporter / CW Group Forms a JV Company with Zhejiang Hua Hang (Hong Kong, 7 November 2016) Leading precision engineering solutions provider, CW Group Holdings Limited (“Company“, together with its subsidiaries, the “Group“, stock code: 1322) announced that its indirect wholly owned subsidiary CW International (Shanghai) Co., Ltd (“CWISH”) and Zhejiang Hua Hang Investment Limited (“Zhejiang Hua Hang”) have entered into a letter of intent in relation to the formation of a joint venture company (the “JV Company”) in the PRC. The JV Company will be held as to 50% by each of the parties respectively. The JV Company will be formed for the purpose of delivering state of the art industrial design and human-centered process solutions to clients in the PRC, who are seeking to integrate technologies from the Fourth Industrial Revolution (“Industry 4.0”). Tapping on the expertise and resources of its Europe Asia team, the Group will assist the JV Company to undertake and pursue smart factories projects, thus to engineer the capabilities and know-how of innovation and intelligent production for manufacturing industries in the PRC, seizing the huge opportunities offered in the PRC market. Mr. William Wong, Chairman and CEO of the Group, stated: “The establishment of the JV Company will enable the Group to introduce state of the art industrial design and innovation to companies in the PRC, which can not only enhance its comprehensive service, but also add further value to its customers. The strategic partnership between the two parties formed under the JV Company will further strengthen the leading position of the Group in the Asia Pacific Region and make significant contributions to the progress of “Industry 4.0″ in the PRC.” – End – About CW Group Holdings Limited (stock code: 1322) About Zhejiang Hua Hang Investment Limited This press release is released by PR ASIA Consultants Limited, on behalf of CW Group Holdings Limited. Document: http://n.eqs.com/c/fncls.ssp?u=SQYHYBBVLD Document title: JV Company with Zhejiang_Hua Hang_Eng
07/11/2016 Dissemination of a Press Release, transmitted by EQS Group. |