Lovol Arbos Group Spa, the new holding company that coordinates the industrial activities in Europe of Foton Lovol Ltd, a leading Chinese manufacturer of tractors, agricultural and earth moving machinery, based in Weifang in the Shandong Province, was officially presented at Calderara di Reno (BO).

The Foton Lovol project in Europe started with the creation of a Research and Development centre in Bologna at the heart of Italy's “Motor Valley” in Emilia Romagna. There, expert engineers and a network of “high tech” component suppliers have implemented a structured development plan in the agricultural tractor and harvesting machine sector.

The unveiling of the company's first machines is scheduled for the forthcoming Agritechnica fair in Hanover.

The creation of the Lovol Arbos Group Spa industrial holding company is accompanied by its significant capitalization that constitutes a further step forward in Foton Lovol's international expansion strategy.

The importance of the event was underlined by the presence of The People's Republic of China's Ambassador to Rome, Li Ruiyu; the Governor of the Shandong Province, Wang Junmin; the Mayor of Weifang, Wang Shuhua; and the Chinese representative at Fao, Xie Jianmin, as well as a large delegation from the Ministries of Foreign Affairs and Research and Technology.

Top executives from Foton Lovol also attended, including the Foton Lovol President, Wang Guimin, and the Party Secretary, Lian Quirong.