SMT & Inspection | November 01, 2004
Mania to establish JV in China
German Mania Technologie AG has signed a Joint Venture agreement with Century Hi-Tech Ltd., located in Hong Kong. The purpose of the contract is to found a company for the joint production of six-spindle drilling machines in China.
Mania Technologie AG welcomed a delegation of politicians from China. The politicians went on a tour of the Mania works in Riedelbach, followed a presentation by the Mania Board of Management and attended the signing ceremony which took place between Mania Technologie AG and their partners, Century Hi-Tech Ltd. The politicians welcomed the agreement and look forward to working together. The factory for six-spindle drilling machines will be built in Huizhou, in the province of Guangdong. Production for the local Chinese market is due to commence in the summer of 2005. Mania expects this investment to strengthen its position in the Chinese market considerably and to lead to a positive result from 2006 onwards. CEO, Mr. Horst Müller explained: “China offers great scope for development and we already sell the major part of our machines to China. It seemed logical to manufacture there“. The production of machines on the spot leads to cost savings and greatly reduced delivery times. The local acceptance of German products and technology made in China should further increase Mania’s share in the Chinese market. Mania will hold a 67% share in this Joint Venture, Mania Technologie (Hong Kong) Limited. The contract partners have agreed to maintain secrecy as regards the investments effected. The production in Weilrod-Riedelbach will be continued. In addition the new one- and two-spindle drilling machines Micronic 81 and 82 will be produced in Germany. Equally the research and development activities in the sphere of drilling machines will remain in Germany.