Muyang Group had signed an agreement with the Wisconsin-based WEM Automation International, LLC. on March, 2011, to create a joint venture - Muyang-WEM Automation Co., Ltd.
According to the Agreement, Muyang holds 51 percent of the shares in the joint venture and shall take the charge of operating the new company. The joint venture will be located in the Hanjiang Economic Zone, Yangzhou, China. The completion of the transaction is expected to occur in approximately the next 6 months following the execution of final agreements. Both companies are highly satisfied and looking forward to achieve the envisioned global growth targets together.
The JV will be devoted to developing, manufacturing, marketing and selling computer automatic control system and electric equipment for the machinery and engineering in the fields of feed, grain, food processing and storage.
About the partner
WEM, since its founding in 1955, is recognized around the world as the leading supplier of control systems for feed and grain, ethanol, aggregate, concrete, asphalt, food, pet food, wood processing and other industries.