Xintai Electric to acquire fixed assets from Italy’s TMC

Date: 16 Oct 2015

Dandong Xintai Electric Co., Ltd. (Xintai Electric) announced on Thursday that it has signed a binding Letter of Intent with TMC Italia S.p.A. (TMC). The Letter stipulates that Xintai Electric will acquire the fixed assets of the latter at a reasonable price, and that the two parties agree to form a strategic partnership to cooperate worldwide.

TMC is a leading cast resin transformer manufacturer in Europe and has built a worldwide presence.

XinTai Electric provides energy efficient power equipment and service solutions to be used in power transmission and distribution systems..

According to Xintai, the firm will become TMC ‘s first-selected vendor through this deal, which will boost exports of its raw materials and electric equipment products through TMC’s global sales network. The firm also expects to leverage TMC’s technological strength to improve its product quality and lower its production costs.

The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.