2024-02-15
Three Joint Ventures and 137 Million Yuan Investment: Russia-China EXPO Results in Harbin
Russian company presented innovative technologies at the 8th Russia-China EXPO and attracted investments of 137 million yuan
Harbin, China – From May 17 to 19, 2024, Composite Group participated in the 8th Russia-China EXPO as part of the official delegation of Chelyabinsk Region headed by Governor A.L. Teksler. The participation results demonstrated high interest from Chinese partners in Russian technologies in composite materials and opened new prospects for international cooperation.
Strategic Agreements and Investments
In a ceremonial setting and in the presence of Chelyabinsk Region Governor A.L. Teksler, memorandums of understanding were signed for the establishment of three joint ventures in China based on Composite Group technologies. Chinese partners are ready to invest 137 million yuan while maintaining a majority stake of 70% for the Russian company, confirming confidence in Composite Group's technological level and business model. The event received extensive coverage in federal and regional media: 77 mentions in publications such as Vesti (Russia 1), RIA Novosti, Kommersant, Moskovsky Komsomolets, Ura.ru, and other leading media outlets.
Exhibition Program Results
At the Chelyabinsk Region group booth, Composite Group specialists conducted 150 presentations for Chinese business representatives and attracted 74 new clients. Two meetings were held with the Minister of Industry, New Technologies and Natural Resources of Chelyabinsk Region M.E. Knaub and Chinese partners regarding the organization of production facilities in the region and attraction of Chinese investments.
Industrial Cooperation and Technology Exchange
As part of the business tour, Composite Group representatives visited the world's largest carbon fiber production plant in Jilin, where negotiations were held with the enterprise's top management. A verbal agreement was reached on establishing Composite Group's experimental production facility at the plant. In Weihai, successful negotiations were conducted on experimental production of mine support systems and anchors with enhanced characteristics, the results of which were confirmed by two testing cycles in 2024.
Academic Recognition and Standardization
At Harbin Institute of Technology, a Composite Group representative presented a report on new technologies in construction composites. Following the presentation, mutual commitment was agreed upon for joint work between Russian and Chinese scientists to create a composite rebar standard for the Chinese market based on Russian experience, opening long-term prospects for technological partnership.
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