Joint Venture in China

Elematic of Finland is joining forces with a Chinese company to introduce precast concrete building and technology into China. Elematic and China Triumph International Engineering Group Co., Ltd. (CTIEC) of P.R. China signed a joint venture agreement on September 6, 2012.

Elematic is one of the world’s leading precast concrete technology companies while CTIEC is part of one of the world’s largest building material companies, China National Building Materials Co (CNBM). The joint venture, of which, Elematic’s share is 60% will be located in Shanghai, and will be fully operational by end 2012. In addition, a licensing agreement for manufacturing in China for the joint venture company by CTIEC was signed between the parties.

Solid status in China

The scope of business of the joint venture company is the sales, marketing, and other related supporting operations within in connection with the equipment and production lines for manufacture of precast concrete products in China. For a western company succeeding in the Chinese market needs localization throughout the business functions. CTIEC is for Elematic an internationally experienced partner with a solid status in China in building construction, machine installation and consultancy in localization.

Elematic, having its headquarters in Finland, is one of world’s leading suppliers of precast concrete technology, complete factories and production lines. Over 95% of the company’s 55 million euro sales come from export. Elematic has about 200 employees, and sales offices in the USA, Germany, Russia, Hong Kong, China, and United Arab Emirates. A competitive representative network covers more than 20 countries. During its 53 years of operation, Elematic has delivered machinery and technology to 100 countries worldwide.

Oriented by the market demand

China Triumph International Engineering Company (CTIEC) is an internationalized enterprise guided by science and technology and oriented by the market demand, which implements science and technology innovation and institutional innovation and is the engineering technical platform of China National Building Material Company Ltd (a listed company in Hong Kong Stock Exchange).

Since 2002, CTIEC has been in the list of Top 50 of National Engineering General Contracting and Project Management Enterprises, Top 100 of National Exploration and Design Enterprises, and Top 200 of Globe Engineering Design and Consulting Companies.