PMT Italia, China Paper Machinery Ink Strategic Cooperation Agreement

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PMT Italia, Italy, and China Paper Machinery Co. (SinoCPMC), China, have signed a strategic cooperation agreement that includes SinoCPMC’s participation in the share capital of PMT Italia as well as technological and commercial cooperation. Both companies agree to share technology and trademarks. The agreement is subject to the approval of the Chinese Authorities, which is expected within the next two months.

The agreement was signed by Zhou Houlian, chairman of the board and GM of SinoCPMC, and Luca Nugo, managing director of PMT Italia. Ma Siyi, VP of Sinolight Group, Ji Junbiao, VP of SinoCPMC, and Nugo witnessed the signing ceremony.

SinoCPMC is wholly owned by Sinolight Group. During the past four years after establishment, it has achieved the acquisition of Sinolight Guotai Machinery Co. and constructed the Hebei branch company, which is equipped with advanced machinery and management. SinoCPMC says that it intends to become "the leader of cutting-edge technology for Chinese paper machinery, the pioneer of advanced paper making machinery made in China, and a national leading and international first class system integrator with ownership of key technology."

PMT Italia has been operating under this name since year 2000 and was, before this, the leading production facility in Europe for Beloit. PMT Italia owns technology for various kinds of paper machines, along with advanced manufacturing, project management, and service capabilities. It provides the global market with complete machines and key section technology, from headbox to winder.

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