Chinese aerial lift and telehandler manufacturer LGMG has signed strategic cooperation agreement with Italian electronics component and systems supplier COBO.
The agreement was signed at the Conexpo show last week in Las Vegas by LGMG general manager Kaiyin Zhi and COBO’s chief business development officer Stefano Scapin.
The cooperation aims to strengthen the existing business relationship and expand its scope to cover more areas. COBO began supplying LGMG in 2018, but more recently the two have been expanding the relationship and now are looking to both formalise and take it still further. It follows a visit by a LGMG delegation to COBO’s facilities in Leno, south of Brescia last October.
During the visit Scapin is said to have emphasised the importance of keeping a strict control over certain processes such as the design, manufacturing and testing of circuit boards and finished products, so as to reduce the time to market and minimise risks caused by the recent semiconductor crisis.
Zhi said: “LGMG has made remarkable achievements, thanks to the support of the partners and friends all over the world. Facing the completely new global market, LGMG will continue to work closely with the global suppliers, adhere to the overseas operation strategy of localised talents, operation and service, precisely match the local market demand, accurately position its products, carry out localized and differentiated operation based on high quality products and efficient services, to steadily expand its overseas business.”
COBO was founded by two car technicians/electricians in 1949 to produce electrical components for cars, followed by agricultural and then industrial vehicle manufacturers. It has grown steadily since then, both organically and through acquisitions. It acquired 3B6 in 2006 which took it into the lifting related equipment industry.