CTT has on October 24, 2019, agreed to sign a Letter of Intent (LOI) to establish a China-based Joint Venture (JV) with Yeman Industries (Holdings) Ltd. having their principal offices in Hong Kong.
The JV will be located in the existing Yeman operational China-based offices in Yiaojiao (Beijing) and Changshu (Shanghai). As CTT’s financial and administrative facility centre, the JV in Hong Kong will be established.
The Beijing and Shanghai locations will be responsible for CTT sales, CTT marketing, CTT production of components, CTT technical installation commissioning as well as for after-sales services.
In Changshu currently new office- and production facilities are under construction. These facilities are planned to be operational by mid-2020.
Till that date, operations will be managed through the offices in Hong Kong and Beijing.
Yeman offers a China-wide network with proven performance in different industries (among which the energy industry) while the current Yeman production outputs high-end machinery which is built according to European standards. A nation-wide network of both commercial and service staff rounds this package off into the perfect package, enabling the JV to rapidly build up the CTT China market presence in a highly efficient and effective way.