Pneumatic rotary and percussive tools will be built in China by Ingersoll-Rand, as part of a joint venture company with Guilin Pneumatic Tools Factory. Shanghai-based Ingersoll-Rand (China) investment company will be one parent of the new joint venture, with a 90% interest. The remaining 10% will be owned by the Guilin Pneumatic Tools Factory.
Speaking about the joint venture – to be known as Ingersoll-Rand (Guilin) Tools Company – Chen Guisheng, managing director of the Guilin factory, said: ‘We are pleased to enter this partnership with Ingersoll-Rand, a world leader in power tools, air compressors and construction equipment. This joint venture significantly expands the range of products we will offer to our customers in China’.
This is Ingersoll-Rand’s fifth joint venture in China.