Dalian toolmakers upgrade technology
By Lian Xin (China Daily)Updated: 2006-12-29 10:52
"The machine tool has aroused great interest in the world's machine tool industry," said DMTG Vice-President Jiang Huaisheng.
With products in more than 100 countries and regions, DMTG is the world's ninth-largest machine tool manufacturer with sales of US$935 million, according to the US-based Metalworking Insiders' Report.
"Eight years ago, DMTG was a small factory struggling in a limited domestic market," Jiang said. "Now, we are one of the world's top machine tool providers. Sales this year will reach 9.5 billion yuan (US$1.2 billion)."
In recent years, DMTG quickened its step to co-operate with foreign partners by establishing eight Sino-foreign joint ventures.
In 2003, DMTG annexed two branch companies of the US-based Ingersoll, a leading company in special machine tool manufacturing.
Later, DMTG bought 70 per cent of the shares of German-based Zimmermann, which specializes in multi-tasking machine tools.
Once armed with Ingersoll and Zimmermann technology, DMTG became a competitor in first-class auto and aviation manufacturing. Its additions added US$90 million to DMTG's sales this year, Jiang said.
 | 1 | 2 |
(For more biz stories, please visit Industry Updates)