YTO Sets up a Joint Venture with ZF for Drive Axels

www.chinaspv.com: YTO Group Corporation releases that the company will set up strategic cooperation with ZF Friedrichshafen AG for the business of axels and establish a joint venture with its wholly owned ZF China, engaging in research & development, application, manufacturing and sales of drive axels of agricultural machinery. The former invests around 139 million Yuan, holding shares of 49% and the latter spends 144 million Yuan, taking shares of 51%.

According to YTO Group Corporation, its investment on the joint venture aims at speeding up the business development of axels and realizing R&D, application and producing of high-class produces with the related ZF high-end technologies, available for technology upgrading of its current products, also, opening the international market of market competitiveness.
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