OREANDA-NEWS. December 25, 2012. Through overall cooperation of joint venture, WISCO has introduced technologies and management mode from the world advanced enterprise to boost enterprise reform and development. On Dec. 8, WISCO Heavy Industry and French Fives Engineering Co. signed LOI for the joint venture cooperation in Shanghai. WISCO president Mr. Deng Qilin and Fives president Mr. Sanchez attended the signing ceremony.

Fives is a world renowned large-scale industrial engineering group, establishing in 1812 with 200-year history of solid field experience and wide influence. Fives designs and supplies process equipments, production lines and turnkey plants for the world’s largest industrial groups in the numerous fields of aluminum, iron and steel, glass, auto, logistics, cement, energy and refine sugar with technical strength in a leading position.

At the meeting, Mr. Deng Qilin expressed that WISCO commits itself to building a world first-class enterprise with international competitiveness. During the accelerated transformation development process, WISCO takes the metallurgical engineering equipment manufacturing as development emphasis in order to bring the over 50 years’ metallurgical manufacturing technology and experience of WISCO Heavy Industry Group into full play and make it bigger and stronger. The two parties’ strategic cooperation, focusing on the future vision, will be in favor of exerting respective advantages to realize win-win development.

Mr. Sanchez said that WISCO is a well-known world top 500 enterprise with broad influence and popularity in the industry and has been an important cooperation partner of Fives Group in the past, both sides have made fruitful cooperation in field of equipment and established a profound friendship. Facing the future, after the signing of the cooperation agreement by both sides, Fives will introduce brand new system mechanism, advanced technologies and first-class management for the joint venture to create a world first-class manufacturing plant.

According to the specifications of the LOI, and based on the principle of “Good faith cooperation, complementary advantages, mutual benefit, win-win development”, both sides will reach the agreement and conclude the specific articles in respect of share proportion, JV plant construction, product positioning, processing capacity, technical R&D, talent cultivation and product sales, etc.