Normet Group and JCHX Mining Management have signed an agreement to form a joint venture to manufacture and sell underground mining equipment in the Chinese market.

The joint venture will initially focus on manufacturing and sales of multipurpose mining vehicles and related accessories in the Chinese mining market. This is an important milestone in our plans to expand in the growing Chinese mining market.

The joint venture company will be established to Daye, Hubei Province, China.

"With this joint venture we aim together with our partner to provide state-of-the-art mechanised mining equipment which will improve productivity, safety and efficiency for our Chinese customers. This joint venture agreement is in line with Normet strategy to develop even stronger foothold in China and with an experienced industrial partner like JCHX this will happen faster," said Robin Lindahl, president and CEO of Normet Group.

"We at JCHX Mining are excited to partner with Normet for this joint venture and value specially the long experience and quality of Normet technologies as well as their strong process know-how," said Mr Zhanmin Li, president of the JCHX Mining Group.