OREANDA-NEWS. May 06, 2014. With Chinese president Xi Jinping and French president Holland as witnesses, Deng Qilin, the president of WISCO, and Sanchez, the president of FIVES Group, signed the cooperation agreement in the Elysee Palace of Paris.

The agreement was signed to introduce the technology and management from the globally advanced company, to create world-class joint ventures, to develop the energy-saving and environment-friendly production lines at international leading level, and to build a WISCO equipment manufacturing base with strong competitiveness.    

By the agreement, WISCO and FIVES will establish a large complete machinery manufacturing joint venture with each party accounting for 50% of the share. The joint venture will be engaged in the design, purchase, manufacture, assembly and technical services of equipments for both steelmaking and non-steelmaking industries.

Established in 1812, FIVES Group is a renowned large industrial engineering group and has a widespread influence in the world. With its leading technology, it designs and supplies process equipment, production lines and turnkey plants for the world’s largest industrial groups in the aluminum, steel, glass, automotive & logistics, cement, energy and sugar sectors.

FIVES and WISCO have cooperated with each other for nearly a decade and achieved a lot in many projects. In order to accelerate the business transformation, WISCO made metallurgical engineering equipment manufacture as the focus of its strategic development. With the strong support and guidance of Mr. Deng Qilin and Mr. Zhang Xiang, the top leaders of WISCO, the two companies tried to seek for opportunities to integrate the advantages of the technology and brand of FIVES and the broad market of WISCO to create a world-class equipment manufacturing base jointly.

On Dec.8, 2013, WISCO Heavy Industry and FIVES Engineering signed the memo of understanding and reached a consensus on joint venture, product orientation, process capability, research and develop, personnel training, marketing and so on.  At the end of last year, the feasibility study report of “Lille Heavy Industry”, a joint venture of WISCO Heavy Industry and FIVES, was approved and the joint venture would be registered.

Meanwhile, WISCO and FIVES will extend all-round cooperation to many other projects. FIVES will provide technical support to the high quality auto sheet production of WISCO, and actively participate in the construction of WISCO Fang Chenggang project.