Atlas Copco and red rings signed joint venture agreement 

Atlas Copco investment company and hongwuhuan group in Zhejiang Quzhou signed a joint venture agreement open rig. The two sides will form a joint venture to produce and sell open-pit mining equipment for Chinese users.

Atlas Copco is the world's leading sustainable productivity solutions provider, with innovative proprietary compressor, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems and other equipment manufacturing technology, and has a global sales network. Its underground mining and rock excavation technology business area has leading drilling and rock excavation technology, which can provide sustainable solutions for open-air and civil engineering, underground mining, infrastructure, water well drilling and geotechnical engineering applications. Hongwuhuan group was founded in 1997, is the enterprise of air power and engineering excavation equipment leading manufacturing base, with strong equipment manufacturing. Hongwuhuan group now has 8 series of more than 400 kinds of products, with an annual output of two hundred thousand sets of general machinery, engineering machinery, construction machinery, power machinery and mining machinery production capacity.

Atlas Copco signed a joint venture agreement with hongwuhuan group is an important milepost of cooperation between the two sides. After the establishment of the joint venture will be based on Atlas Copco and hongwuhuan technology to rely on, according to the needs of users China R & D and production of high performance products to adapt to the market open rig, mechanized mining trend, to meet customer demand for mining equipment upgrading. The establishment of a joint venture company has yet to be approved by the relevant government departments.