China : CMI officialises partnership with WISCO at Wuhan
October 23rd, 2012
Hundred and twenty years after having launched the Chinese steelmaking business there, Cockerill returns to Wuhan with the inauguration by CMI (Cockerill Maintenance & Ingénierie) of a joint-venture with Wiset, the technological engineering subsidiary of steelmaking giant WISCO. The JV has been named Wuhan Cockerill Engineering and Technology Co. Ltd. This agreement was reached on 20 April 2012.
On October 23, CMI inaugurated a joint venture with WISET, a subsidiary of Chinese steelmaking group WISCO. The ceremony took place in the presence of Jean-Claude Marcourt, Vice President of the Walloon Government, Bernard Serin President of the CMI Group, and Peng Chen, Vice President and Chief Financial Officer of WISCO Group. This joint venture has been named Wuhan Cockerill Engineering and Technology Co. Ltd., and is located at Wuhan. It will principally assist WISCO, the mother company of Wiset, in projects to extend production capacity.
This collaboration represents a new opportunity to strengthen the position of CMI on the Chinese market. On top of its international reputation, CMI Industry will bring its technological support and expertise in managing industrial projects. The Group CMI holds 49 % of the new joint-venture. It now has four capital interests in China.