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Recently, the internationally renowned hardware manufacturer, American Stanley Corporation of the US Standard & Poor's 500 companies and Shandong Wendeng Power Tools Group Co., Ltd. held a contract signing ceremony for Stanley (Wenden) Tools Co., Ltd., the two sides plan to invest a total of 110 million US dollars, including the first phase of investment $29 million, a new high-end hand tool project. It is reported that the new joint venture is Stanley's sixth manufacturing plant in China.
Stanley is a US Standard & Poor's 500 company founded in 1843 and is the world's largest manufacturer of tools, hardware and door products. Stanley has offices in various countries around the world, and its marketing network spreads all over the world. It is a world-renowned international brand. Hardware, tools, security, and other categories are known for their excellent quality and innovative spirit. Currently, there are more than 40 factories and more than 14,000 employees worldwide. Power Tools is the world's largest adjustable wrench and the largest manufacturer of hand tools in China. Its enterprise scale, product quality, economic benefits, and export earnings are among the highest in the country, and it has great potential for development. The strong alliance between the two sides provides an example for the cooperation and development in the era of globalization, and also achieves a major breakthrough in Wendeng's enterprise.
Stanley and Power have been cooperating for a long time. In the past 15 years, Power Tools has been a strategic supplier of Stanley. The establishment of a joint venture is of great significance to enhance the competitiveness of both parties and to play their respective regional and global competitive advantages. John Langen, Chairman and CEO of Stanley Global Board of Directors attending the signing ceremony, described this to reporters.
The power of Stanley, the introduction of new management concepts, advanced technology and production technology, can enhance the competitive strength of Wendeng Power and enhance the overall strength of Wendeng's electromechanical tools industry. For cooperation, the chairman of Power Tools Group Co., Ltd. is full of confidence in Yujiang.
Hanging on the strong is a shortcut for Wendeng to promote county industrial development and upgrade the county industry grade and level. As a strong industrial city in the county, after years of development, Wendeng City has formed three industrial clusters of electromechanical tools, automobiles and parts, and home textiles. It has cultivated a group of top companies in the country and the world. The number of enterprises that sold over 1 billion yuan last year reached 18, and 21 enterprises that paid more than 10 million yuan. In the process of development, Wendeng City gradually realized that the industrial development of the county is faced with many constraints such as capital, talents and technology. It is difficult to become bigger and stronger by relying on its own strength, and to exert its own advantages and actively cooperate with domestic and foreign strong enterprises. By forming a community of interests, we can make up for our own shortcomings and achieve a new leap in leveraging development.
Based on this, Wendeng City is launching internal forces, encouraging enterprises to expand and upgrade themselves, and guiding enterprises to look at domestic and foreign industry giants, and vigorously promote asset restructuring, joint venture cooperation and industry according to the principle of similar products and industry-related links. The investment promotion has led to the successful settlement of a number of good and large projects, which have added vitality and accumulated stamina for industrial development. In October 2004, Wendeng's first listed company, Shandong Panther and Harbin Dongan Group, successfully realized asset restructuring, introduced new development ideas and development concepts, and entered the fast lane of development, with all indicators reaching new highs. From January to April this year, in the face of the unfavorable situation of the financial crisis, the Dong'an Panthers rose against the trend and sales revenue increased by 45%, showing a good development trend. Evergrande Motor climbed to a high pro, accelerated integration with Harbin Taifu Electric, and its industry leading position is more prominent. In the first four months, the profit and tax increased by 50.4%. At present, more than a dozen key enterprises in the city have successfully achieved cooperation with strong enterprises, and another 8 companies have reached preliminary intentions, and the excellent and strong solutions are being negotiated.
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