The new manufacturing facility will be focused on producing and providing maintenance services for Wowjoint’s launch gantries and lifting, railway transport and railway testing equipment.
An agreement with Zhenjiang City New District government enables Wowjoint to establish the new manufacturing and R&D facilities.
Wowjoint has set up a new subsidiary called Zhenjiang Wowjoint, whose new facility will cover 200,000m2. Zhenjiang Wowjoint presently owns 48,000m2 and may purchase remainder in stages over the next couple of years. Construction will be split into two phases. Phase one has an estimated completion time of six months, which would be in late 2012.
In addition, Wowjoint has recently established a new R&D centre in Zhenjiang in conjunction with Beijing Jiaotong University’s Yangtze River Delta R&D Transportation Institute. In December, Zhenjiang City New District government provided Wowjoint with 860m2 of office space at no cost to the company. The new R&D centre will concentrate on working with the new manufacturing facility to supply enhanced equipment and services to customers.
“Wowjoint hopes to expand our market share in China and internationally with our strategic development of the new manufacturing base and new R&D centre in Zhenjiang,” said Wowjoint chief executive officer Yabin Liu. “We believe it’s in a beneficial location close to Shanghai and provides additional resources to capitalise on our international expansion plans.”
