LiuGong Poland Machinery Co. Ltd. (LiuGong Poland) and the asset trustee of ZZN Transmission Plant in Stalowa Wola, Poland, held a signing ceremony of a conditional acquisition agreement, which marks another step for LiuGong Poland in the direction of developing core parts on its own. Wu Yindeng, president assistant, board director and deputy general manager of LiuGong Poland, signed the agreement with ZZN asset trustee Adam Jozef Pilicki. Li Linhui, president assistant, together with some other LiuGong Poland executives and media friends from Poland witnessed the event.
The ZZN factory is adjacent to LiuGong Poland's plant and has been supplying key parts like axles and gears for bulldozers, pipe-layers and loaders for many years. ZZN is a major transmission parts supplier for many well-known international companies including GE Rails (U.S.) and STK (Singapore). These long term relationships are due to the R&D team and top quality production, according to the company.
On June 28, 2013, LiuGong Poland and ZZN assets trustee inked the preliminary purchase agreement. Following this conditional purchase agreement this time, the two parties were expected to sign the final contract and complete the assets transfer on Nov. 12, 2013.
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