LVD, HD establish joint venture company in China
LVD Company n.v. and Hubei Tri-Ring Metalforming Equipment Co., Ltd. (HD) have formed a joint venture company in Huangshi City, Hubei Province, China.
The joint venture company will produce LVD sheet metalworking equipment, including turret punch presses, laser cutting systems, and CNC press brakes, as well as HD's own design machinery, for the Chinese and export markets.
According to the companies, production from the new joint venture will complement LVD's existing production facilities in Belgium, USA, France, Slovakia, and Romania and will provide key capacity for LVD and HD's strategic growth plans.
HD is a long-time licensee of LVD and has been manufacturing and selling select models of LVD press brakes and shears since 1981. More recently, since 2000, select Strippit CNC turret punch presses have also been manufactured and sold in China.
"The joint venture is a milestone in LVD and HD's successful partnership," said LVD Chairman, Jean-Pierre Lefebvre. "This venture brings together the design, engineering, manufacturing, and marketing strengths of our two companies and provides us the means of delivering advanced technology sheet metalworking products and solutions to a wider customer base in China and elsewhere in the world."
The joint venture will be managed by Mr. Wan Jiasi, general manager.