Xinhua News Agency Zhu Liyi 

Xinhua News, Hangzhou, July 19th (Reporter Zhu Liyi), GiantKONE Elevator Co., Ltd., the joint venture between KONE Corporation, Finland, one of the world’s largest manufacturers of elevators and escalators, and Zhejiang Giant Elevator Co., Ltd. started business operation on the 18th in Huzhou, Zhejiang.

It is understood that the joint venture company's annual production capacity of elevators, escalators and autowalks can reach 6,000 units, including escalators, autowalks, passenger elevators, sightseeing elevators, bed elevators, hydraulic elevators and cargo elevators.

According to the agreement reached by both parties, the joint venture company and all of KONE’s subsidiary companies can each act as sales agents for each other’s products, which is beneficial for joint venture companies to use KONE’s global supply chain platform to reduce procurement costs and improve competitiveness.

According to reports, China is currently the world's largest elevator producer, and the Yangtze River Delta where the joint venture is located is the most mature region in the domestic elevator industry chain. It almost concentrates 60% of the output value of the whole elevator industry in the country and 70% of the output value of accessories.

KONE Corporation, Finland with 95 years of history currently has more than 800 operating agencies in more than 40 countries around the world. Zhejiang Giant Elevator Co., Ltd. has 27 years of experience in manufacturing electricity and escalators. (Finish)

GiantKONE joined hands for the elevator market share

(2005-07-24 10:37:56) Source: Xinhua Daily Telegraph Page 3

Recently, GiantKONE Elevator Co., Ltd. officially opened its door for business. As the joint venture between Zhejiang GiantKONE, a leading company in the domestic elevator industry, and KONE Corporation, Finland, it has a total investment scale of 200 million yuan and a registered capital of 83 million yuan. "Giant" holds 60% of the shares, "KONE" holds 40% of the shares, and the cooperation period is 50 years. "KONE" with 95 years of history is a world-famous elevator and escalator company. It has more than 800 operating agencies in more than 40 countries around the world. The "giant" is a state-owned elevator company with 27 years of professional manufacturing history. Many major cities have operating agencies. According to Li Shulin, secretary general of China Elevator Association, the annual production in 2004 exceeded 1/3 of the total number of new elevators in the world, and China has become the world’s largest elevator production capacity and the world’s largest new elevator market. Some industry insiders predict that in 2005 China's elevator industry will form a large market of 30 billion yuan. It is understood that the joint venture is located in the Nanchang Economic Development Zone of Zhejiang Province, which is located in the Yangtze River Delta and has been hailed by the industry as "the hometown of elevators." (Chen Jianwei)

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Jiefang Daily News (Hu Xiulin) GiantKONE Elevator Co., Ltd., a joint venture between Zhejiang Giant Elevator Co., Ltd. and the world-renowned KONE Corporation, Finland with the investment of 200 million yuan, was officially opened today. Benjamin Bassin, Finnish Ambassador in China attended the opening ceremony.

Zhejiang Giant Elevator Co., Ltd. is a provincial high-tech, famous trademark and name brand enterprise. It is also China's largest domestic elevator brand. As one of the world’s largest elevator and escalator companies, KONE Corporation, Finland, which has a history of 95 years, currently has more than 800 operating organizations in more than 40 countries and has built a research and development center in the Asia Pacific region in China. The invention of environmental protection and energy-saving machine room-less elevator technology is even more important for the elevator industry in the world. This time, it is a combination of strong cooperation and perfect cooperation, which greatly enriches their respective product lines. Through the global supply chain platform of KONE, the joint venture is expected to reduce Purchasing costs, improve competitiveness; at the same time, it has opened up a broad market prospect for diversified operation fields such as elevator accessories.

China is the world's largest elevator market and elevator manufacturing country at present. The Yangtze River Delta with Shanghai as the leader has concentrated almost 60% of the output value of China's elevators and 70% of the output value of accessories, and it is also a hot spot for foreign investment to settle. GiantKONE Elevator Co., Ltd. is located in the Nanxun Economic Development Zone, Huzhou City, Zhejiang Province, which is known as the “Hometown of elevators” in the industry. It covers an area of ​​more than 90,000 square meters and bears the responsibility for “mass customization of product configuration management technology. Research and its application in the elevator industry and other national research projects.

After one year “Deep in love”, GiantKONE Elevator Co., Ltd., jointly established by Zhejiang Elevator Co., Ltd. and KONE Corporation, Finland, was officially put into production yesterday. With 95 years of history, KONE Corporation is one of the world’s largest elevator and escalator companies. Currently, there are more than 800 operating agencies in more than 40 countries around the world, providing about 25,000 new elevators and escalators each year. Last year, the sales volume of new elevators was 30,000, and net sales income reached 2.866 billion euros. As the largest shareholder of the joint venture company, Zhejiang Giant Elevator Co., Ltd., has been manufacturing elevators since 1978. After decades of development, it has established a solid foundation in terms of product structure, management model, market network, and service system. It is a provincial high-tech, famous trademark and brand name product enterprise. It has 27 years of professional experience in manufacturing electricity and escalators and is currently the largest local brand enterprise in China. Last year, it produced 1200 elevators and its sales revenue reached 220 million yuan. In early August of last year, the two parties had initial contact. GiantKONE' domestic leading manufacturing capability and complete product series covered the country's sales and service network, and KONE Corporation’s advanced business philosophy, strong R&D strength, scientific operating model, and global coverage. Sales and service network, so that both sides favor each other. Into substantive negotiations in October, signed a cooperation agreement in February this year. As a joint venture, GiantKONE Elevator Co., Ltd. has annual production capacity of elevators, escalators and autowalks up to 6,000 units at present. This year, the sales volume is planned to reach 2,000 units. After that, it will increase at a rate of 1,000 units each year and strive to achieve the sales volume of 10,000 units in 10 years, with the total sales volume accounting for more than 6% of the Chinese market. At the same time, according to the agreement reached by the partners, the joint venture and all of KONE’s subsidiaries can each act as sales agents for each other’s products, which greatly enriches their respective product lines, and the joint venture’s potential to reduce procurement through the global supply chain platform of KONE Cost, improve competitiveness. For the parent giant company of the joint venture company, it can be involved in diversified operation fields such as elevator accessories, and it also opens up a broad market prospect for Chinese elevators to go global and further enlarge and strengthen the company. The powerful GiantKONE Elevator Co., Ltd. covers an area of ​​9,195 square meters, with a total investment of 200 million yuan. In the initial stage of the joint venture, China holds 60% of the shares, and the foreign party holds 40% of the shares. The cooperation period is 50 years. The company has the world's leading numerical control multi-station punch, CNC shears, plasma cutting machines and other key technology and equipment, and the introduction of modern, intelligent spraying and other assembly lines, with the domestic industry in the most advanced implementation of the elevator tower.

(Zhang Jian and Zhuang Xinmin)

The day before yesterday, Huang Meng, Deputy Secretary of the Municipal Party Committee and mayor of the city, cordially met with Benjamin Bassin, Ambassador Extraordinary and Plenipotentiary of the Finnish Embassy in Beijing. Huang Meng expressed his warm welcome to Mr. Ambassador for attending the inauguration ceremony of GiantKONE Elevator Co., Ltd. Huang Meng said that Huzhou Municipal Government attached great importance to this cooperative project and had great expectation on it. In the future, we will continue to care and support the development of the company and do a good job of service. Ambassador Bassin said, “Nanxun District of Huzhou has combined the best industrial and commercial traditions and the long history of modern China, and the new joint venture is the best opportunity. I am convinced that the cooperation between Giant and KONE is win-win cooperation. (Zhang Jian)

Huzhou Online 

Huzhou Online News (Reporter Tan Yangsu) Gongs and drums celebrate the grand opening, blooming flowers welcome friends and guests. This morning, GiantKONE Elevator Co., Ltd., a joint venture between Zhejiang Giant Elevator Co., Ltd. and KONE Corporation, Finland, held a grand opening ceremony in the Nanxun Economic Development Zone. Huang Meng, Deputy Secretary of the Municipal Party Committee and Mayor, Zhou Jie, Deputy Mayor, Fu Awu, Standing Vice Chairman of the CPPCC National Committee and Benjamin Bassin, Ambassador Extraordinary and Plenipotentiary of Finland in China, Mrs. Paivi Hiltunen-Toivio, Consul General of the Republic of Finland in Shanghai and other leaders and guests attended the ceremony at invitation.

Huang Meng expressed congratulations to the opening ceremony on behalf of the municipal party committee and the municipal government. He extended a warm welcome and sincere thanks to all the distinguished guests and staff at the opening ceremony. He said that GiantKONE Elevator Co., Ltd. is a sincere partner of KONE Corporation and Zhejiang Giant Elevator Co., Ltd. The results of cooperation and advantages are also the epitome of friendly exchanges and economic and trade cooperation between China and Finland. On the extensive development platform, after thorough cooperation of the two parties, GiantKONE Elevator Co., Ltd. will become the giant of the elevator industry in our province and even the whole country, and it will become a model of Chinese-foreign joint ventures in the Chinese elevator industry. Huang Meng stated that in the future, the Huzhou City Party Committee and the municipal government will continue to provide great support and quality services to GiantKONE Elevator Co., Ltd. and other companies investing in the lake to make contributions to Huzhou’s industrial economic development and advanced manufacturing base construction. a bright future.

It is reported that KONE Corporation, Finland with 95 years of history has joined forces with Zhejiang Giant Elevator Co., Ltd., China's largest domestic brand enterprise that has specialized in the manufacture of electricity and escalator history for 27 years, to create a joint venture, GiantKONE Elevator Co., Ltd. This strategic move will greatly enhance the market position of both partners in China and globally. The total investment of the joint venture is 200 million yuan, and the registered capital is 83 million yuan. In the initial stage of the joint venture, the Chinese party holds 60% of the shares, the foreign party holds 40% of the shares, and the joint venture and cooperation period is 50 years.

"KONE" is one of the world's largest elevator and escalator companies and currently has more than 800 operating agencies in more than 40 countries around the world. Zhejiang Giant Elevator Co., Ltd. was founded in 1951 and was mainly engaged in the manufacture of machinery products in the early days of its business. Since 1978, it has been producing elevators. After several decades of development, it has developed its product structure, management model, team building, factory environment, market network, and services. The system and other aspects have established a solid foundation. It is a provincial high-tech, provincial famous trademark and provincial brand-name product company; it is also a provincial honesty and demonstration unit, Zhejiang Province credit-worthy, contract-abiding AAA-level enterprise; at the same time, it is a demonstration of the province's manufacturing informatization project. The company and the first batch of green enterprises in the province won the National New Product Award for its GP2000 passenger elevator. The cooperation between “Giant” and “KONE” will enable more customers to enjoy elevator technology and services of world-class brands. (Executive Editor: Tan Yangsu)

Yueqiu Motor joined hands with international tycoon, Huzhou vigorously promoted the new concept of “Nanxun phenomenon” in the investment invitation   Huzhou Online News   Yesterday, the auditing office commissioned by Somfy, France, the world's largest tubular motor manufacturer, carried out audit on Huzhou Yueqiu Electric Co., Ltd. located in Nanxun District. Both parties initially determined to establish a joint venture company in September this year.

Yueqiu is a well-known micro-motor company in China and mainly produces household motors and tubular motors. In 2004, the sales revenue of Yueqiu reached 120 million yuan. Its 85% tubular motor products are exported to markets such as Europe, Southeast Asia, and the Middle East, and have more than 130 international customers. This cooperation originated in May last year. The international market share of Yueqiu products has attracted the attention of French Shang Fei. After learning about the situation in Yueqiu through consulting agencies, Shang Fei dispatched a deputy general to visit Yueqiu several times and extended the "Olive branch" to form a joint venture. After many negotiations between the parties, the cooperation intention has been basically reached. Not long ago, Zhejiang Giant Elevator, also located in Nanxun District, jointly established GiantKONE Elevator Co., Ltd. with the world’s third-largest KONE Corporation, Finnish with a total investment of 200 million yuan. Among them, GiantKONE accounted for 60% of the equity, and KONE Corporation accounted for 40%. Both companies were introduced as the typical success stories at 2005 half-year open economy work conference held in Anji County yesterday. These are the successful cases of attracting foreign investment in the development of the city's export-oriented economy. The similar investment through private companies, foreign-funded enterprises, and other entities is causing great concern from the municipal party committee and the municipal government. At the beginning of this month, the city first put forward a new concept of the "Nan Pang phenomenon."

Huang Meng, Deputy Secretary of the Municipal Party Committee and Mayor of the city, said at yesterday’s meeting that the potential for attracting investment was enormous through such models as “Using foreign people to attract foreign capital”, “External introduction to foreign countries”, and “Attracting and introducing foreign capital”. The "Nanxun phenomenon" is worth summarizing and promoting. "The autonomy is in the enterprise, but the government departments must guide the change of ideology." He said that whether companies choose to develop independently or choose cooperation is a strategic decision. It was learned from Nanxun District that, after summing up the experience of “Nanzhao phenomenon”, the district was currently preparing to package 30 privately-owned and foreign-funded enterprises and present them in the forefront of investment promotion. It was also learned from yesterday’s meeting that from January to June of this year, the city’s contractual foreign investment was ranked No. 4 in the province, which was US$779.28 million; actual foreign investment ranked No. 5 in the province. The amount of US$237.08 million was basically the same as last year. The annual plan for the introduction of foreign investment in our city this year aims to "Guarantee seven and strive for eight", which means that foreign investment will reach at least US$700 million and strive to reach US$800 million. By the end of June this year, 33.7% of the plan had been completed. At yesterday’s meeting, the three counties, two districts and Huzhou Economic and Technological Development Zone stated that they would strive to achieve this goal.