Weitang industry (300707. SZ) announced that the company intends to sign a joint venture agreement with means Industries Inc. (hereinafter referred to as “means”) to jointly invest and establish Mingshi Weitang (Wuxi) Power Technology Co., Ltd. (provisional name, subject to the industrial and commercial registration and approval, hereinafter referred to as the “joint venture company”), the registered capital of the joint venture company is 2 million US dollars, and the company holds 51% of the shares.
As a subsidiary of Ansteel industrial group, means’s main business is automobile clutch, automobile gearbox and other transmission system components. By using advanced manufacturing technology (roller molding, spinning, Grob forming, combined die process and other molding technology), means supplies automobile manufacturers and transmission systems such as general motors, Ford, Fiat Chrysler, Honda, Aisin, ZF, etc The core components of the drive system shall be provided by the supplier.
Through this joint venture, the company has entered the automotive transmission system and other parts business, and introduced foreign advanced molding technology and technology, benefiting from the localization process of transmission system components in China’s automobile market and the release of localization capacity of major transmission system manufacturers.
2020-12-11