PMT Italia, China Paper Machinery sign strategic cooperation agreement that includes CPM's participation in share capital of PMT Italia; both companies to cooperate on technology and trademarks, will service global papermaking market jointly

LUCCA, Italy , April 17, 2014 (press release) – On April the 11th 2014, PMT Italia and China Paper Machinery Co. (SinoCPMC) have signed a strategic cooperation agreement which includes SinoCPMC’s participation in the share capital of PMT Italia as well as technological and commercial cooperation. Both companies agree to share technology and trademarks, in order to provide an integrated complete service for the global paper making market jointly.

The agreement was signed by Mr. Zhou Houlian, the Chairman of Board and General Manager of SinoCPMC and Mr. Luca Nugo, the Managing Director of PMT Italia. Mr. Ma Siyi, Vice President of Sinolight Group, Mr. Ji Junbiao, Vice President of SinoCPMC and Mr. Romano Nugo have witnessed the signing ceremony.

SinoCPMC is wholly owned by Sinolight Group. During the past four years after establishment, it has achieved the acquisition of Sinolight Guotai Machinery Co. and constructed the Hebei branch company, which is equipped with the most advanced machinery and management. SinoCPMC intends to become “The leader of cutting-edge technology for Chinese paper machinery, the pioneer of advanced paper making machinery made in China and a national leading and international first class system integrator with ownership of key technology.”

PMT Italia has been operating under this name since year 2000 and was, before this, the leading production facility in Europe for Beloit. PMT Italia owns the complete technology for various kinds of paper machines and the richest manufacturing, project management and service capabilities. It has served and will continue to provide the global market with complete machines and key section technology, from headbox to winder.

The agreement is subject to the approval of the Chinese Authorities, which is expected within the next two months.

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