Parker Hannifin forms joint venture with Tejing Hydraulics
Cleveland, OH; Tianjin City, China—Parker Hannifin Corp. has formed a joint venture with Tianjin Tejing Hydraulics Co., Ltd. to produce hydraulic components and systems in China.
Cleveland, OH; Tianjin City, China— Parker Hannifin Corp. has formed a joint venture with Tianjin Tejing Hydraulics Co., Ltd. to produce hydraulic components and systems in China. Parker will be the major partner in the new venture, which will be named Parker Tejing Hydraulics (Tianjin) Co., Ltd. The business included in the joint venture had sales of $20 million for the fiscal year that ended on Dec. 31, 2004. The agreement is subject to approval by China’s local government regulators.
Tejing produces hydraulic pumps, valves, and cylinders for mobile platforms. Parker established sales and service operations in China in the early 1990s, and operates two other wholly owned production facilities, another two joint ventures, three sales offices, and two warehouses in China. The agreement with Tejing will enable Parker to manufacture hydraulic devices for mobile equipment in China.
'We’re excited by the opportunity to combine Parker's broad product and system technology with Tejing’s manufacturing platform for hydraulics,' says Michael Leung, Parker’s country managing cirector. 'China is an incredibly dynamic market, and the country's many construction, public works, and agricultural projects rely heavily on the power of hydraulics for mobile and industrial equipment. We look forward to this being a long and mutually successful partnership.'
Zhang Wen Li, general manager of Tianjin Machinery & Electric Industry Holding Group, adds that, 'This joint venture will enhance our local engineering capabilities to provide customers with the best solutions appropriate to the local market needs, and so help us grow our market share in China.'
Control Engineering Daily News Desk
Jim Montague, news editor