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Zoomlion and Riba formally signed an agreement to establish their joint venture, TOP Carbon SRL in Faenza, Italy.
TOP Carbon SRL's main business will be the industrialized development manufacture and sale of the carbon fiber composite material parts for industrial construction machinery and equipment. The company will begin production in 2013 with an initial investment of 5 million Euros.
Riba will hold 51% shares of Top Carbon SRL while Zoomlion will be holding the rest of 49% and the joint venture will be located in Faenza, Italy.
Currently the company will mainly carry out the R&D and manufacturing for concrete pump truck carbon fiber boom. In the future, Top Carbon will also consider the development and manufacture of other construction machinery products. Expected annual production value is about 20 million Euros.
Chairman Zhan Chunxin and Chairman Massimo Bucci signed on the joint venture and long-term strategic cooperation agreement.
Carbon fiber material in concrete pump vehicle application is a technology revolution in engineering machinery industry manufacturing. Zoomlion is the world's only manufacturer applied the technology in the production of concrete pump truck. Zoomlion recent Guinness world record setter, 101 meter boom pump has applied the mature carbon fiber arm frame technology co-developed with Riba.
The application of this technology reduced more than 40% of the pump truck boom weight and more than 15% of complete pump vehicle weight. The technology has solved the traditional steel arm fatigue cracking problems, reduced pump maintenance difficulties. With the high reliability of new material technology, the pump the service life will be extended up to 20 years.
The years long cooperation between Zoomlion and Riba have made multinomial technology breakthrough in carbon fiber composite arm, hydraulic cylinder and carbon fiber composite material product industrialization.
The joint venture has integrated Zoomlion many years industrialized application technology and patents in carbon fiber material construction machinery applications and Riba carbon fiber material application manufacturing unique advantage resources. Based on the current market for high-end long arm frame pump and other products continued demand, the cooperation will have good market prospects.
More information: www.zoomlion.com - www.ribacomposites.itOriginal language Chinese