Linde Hydraulics enters Joint Venture in China to Strengthen Market Position in Asia
Aschaffenburg/Weifang – Linde Hydraulics increases its focus on the strategically important Asian market by establishing a joint venture in China. The German Linde Hydraulics GmbH & Co. KG and Chinese Weichai Power Co., Ltd., registered Linde Hydraulics (China) Co., Ltd on March 12, 2015 in Weifang, China. The German specialist in hydraulic drive systems controls 51% of the shares, Weichai Power as one of the leading companies in the global commercial vehicle space, holds 49% of the business.
Weichai Power already owns 70% of Linde Hydraulics through a purchase in 2012. By uniting sales channels, product development and manufacturing, both companies intend to position Linde Hydraulics as a key supplier of hydraulic components in China. The registration of Linde Hydraulics (China) Co., Ltd. is an important step to consequently pursue this goal.
The joint venture will start operations with a sales and service centre, while local assembly and manufacturing are scheduled to start production in May 2015. The company plans to employ up to 300 employees at their Weifang location and to reach a mid-term sales revenue of over 100 mil. €.