Liebherr has sold its stake in the Zhejiang Liebherr Zhongche Transportation Systems joint venture to its partner Zhejiang Zongche Railway Vehicles Equipment.
At the same time, it has set up its own wholly-owned company to supply its heating and ventilation systems and hydraulic actuators to the rail industry in China - Liebherr Transportation Systems (China), based in a new 11,000 square metre facility in Pinghu, Zhejiang province. Going forward it will be the only company offering Liebherr HVAC systems and hydraulic actuation systems in China.
The company says that the move will allow it to provide more advanced technologies to meet the expectations of the local business community, the authorities as well as the rules and regulations in the People’s Republic of China. The handover process will be completed by year end.
Liebherr is offering the employees of the former Joint Venture the opportunity to join its new business in comparable positions.