Shanghai Electric will develop new generation of wooden based plate pressing machine

Shanghai Wood-Based Panel Machinery Co., Ltd., jointly invested by SEC and Austria KRONOSPAN, was established in October 18 with the total investment of USD 25 millions and registration capital of USD 1200 millions. The joint venture mainly engages in the manufacture of world s advanced wood-based panel continuous pressing machines.

The annual sales is RMB 300 millions this year and it will reach RMB 500 millions next year. Mr. Harig, the representative of KRONOSPAN, said in the ceremony that in fact this world most advanced machine had been developed before the formal establishment of the joint venture, and it is also introduced, by Wang Jinxing, the general manager of the newly established company, that all research work of the products will be fulfilled by September 9, 2005.

Huang Dinan, the president of SEC, presented the opening ceremony and gave his congratulation to the new company.