June 8, 2011
Muyang and WEM Automation International create Joint Venture
Press Release
Muyang Group has anounced that it has signed an agreement with Wisconsin-based WEM Automation International, LLC. on March, 2011, to create a joint venture - Muyang-WEM Automation Co., Ltd.
According to the Agreement, Muyang holds 51% of the shares in the joint venture and shall take the charge of operating the new company. The joint venture will be located in the Hanjiang Economic Zone, Yangzhou, China. The completion of the transaction is expected to occur in approximately the next six months following the execution of final agreements. Both companies are highly satisfied and looking forward to achieve the envisioned global growth targets together.
The JV will be devoted to developing, manufacturing, marketing, and selling computer-automated control systems and electric equipment for machinery and engineering in the fields of feed, grain, food processing, and storage.