XCMG inks a deal with Sinopec to produce hydraulic fluids

Zhao Jian, of Sinopec, and Sun Jianzhong, vice president of XCMG Construction Machinery, officially signed an agreement for the two organisations to co-operate on developing hydraulic fluids. The deal was inked during an opening ceremony at bauma on the stand of XCMG, China’s largest construction machinery manufacturer. A spokesperson for XCMG said it is the first time that an agreement has been sig
April 12, 2016 Read time: 1 min

Zhao Jian, of 6899 Sinopec, and Sun Jianzhong, vice president of 2490 XCMG Construction Machinery, officially signed an agreement for the two organisations to co-operate on developing hydraulic fluids.
The deal was inked during an opening ceremony at bauma on the stand of XCMG, China’s largest construction machinery manufacturer.

A spokesperson for XCMG said it is the first time that an agreement has been signed between a major national Chinese oil products producer and a large manufacturing company in the construction sector.

Sinopec was set up as a joint stock entity under the China Petrochemical Corporation Group - Sinopec Group - in 2000 and is listed in Hong Kong, New York, London and Shanghai. It operates more downstream than PetroChina.

Sinopec products include everything from fertilizers and petrochemicals to refined oil products.

For more information on companies in this article

Related Content

  • The Volvo Group is appointing a new CEO
    April 24, 2015
    The Volvo Group has removed Olof Persson from the role of president and CEO of the company. This move came following pressure from certain shareholders due to the group’s weak financial performance in recent years. Instead the Volvo group plans to appoint Scania’s head Martin Lundstedt to the role. Lundstedt will take the post in October 2015, with the Volvo Group’s chief financial officer, Jan Gurander, standing in as temporary president and CEO.
    Read More
  • XCMG reports record results
    May 14, 2024
    XCMG is reporting record financial results.
    Read More
  • Key Russian road construction complete
    December 5, 2016
    Construction work on the Central Section of Russia’s Western High-Speed Diameter (WHSD) in St Petersburg is complete, with some small detail work now being finished off. The WHSD connects the Southern, Central and Northern sections of St Petersburg and will open to traffic at the end of December. VTB Capital was a key participant in funding the construction of the Central Section and is a major shareholder in the consortium that will operate the entire WHSD route.
    Read More
  • Volvo CE opens Chinese technology facility
    March 20, 2014
    Volvo Construction Equipment has carried out the official opening for its new technology centre in Jinan, China. The 50,000m2 facility is located in China’s Shangdong Province, China and will focus on developing products and components for customers in emerging markets. The centre combines design offices with workshops and facilities for testing both complete machines and components. Currently there are more than 150 employees working at the facility, the majority of which are local engineers, but employee
    Read More

Highlighted Content