Genertec Speeds up its Positioning in Equipment Manufacturing Industry

On July 1st, Genertec and Qier Machine Tool Group Co., Ltd officially signed the Reorganizing and Merging Agreement, Genertec increasing its share in Qier to 58.05% and intending to building Qier into Genertec’s heavy digital machine tools manufacturing platform.

Genertec will also support Qier’s transnational mergers and acquisitions, and reorganizing and integrating other domestic companies in this industry, therefore, forge a leading Chinese heavy machine tool manufacturer with international competitiveness ranked among the world renowned heavy machine tool manufacturers.

He Tongxin, Chairman of Genertec, said, this reorganization had played a leading and breakthrough role in the process of making substantial progress of transformation and upgrading strategy in 2008, and would benefit setting up solid foundation for Genertec’s equipment manufacturing segment.