A private enterprise in Changzhou, Jinsheng Industry Stock Co., Ltd. successfully took over 50% share of the Germany EMAG Group, one well-known machine tool manufacturer in the world. So far, Jinsheng has become the majority shareholder among the three shareholders.  

At 7 pm local time, Jinsheng Industry Stock Co., Ltd. and EMAG Group signed the agreement in Berlin, Germany. And the State Development Bank also singed the agreement.

The project received great attention by the leaders of both countries. Li Keqiang, member of the Political Bureau of the CPC Central Committee and premier of the State Council, and Westerwelle, Vice Chancellor and Foreign Minister of Germany attended the signing ceremony.

Founded in 1867, EMAG Group is the inventor of the inverted machine tool, occupying 40% of the global market share. Besides, as the world's leading supplier of high-end gear, gearbox, high-speed train wheel equipments, it has owned more than 200 international patents.

EMAG Group has invested 25 million euros to set up a wholly owned enterprise in Jintan. Through this acquisition, Jinsheng Company completed upgrade and marched into the international market. Last year, the sales revenue of Jinsheng Company reached 2.6 billion yuan, and it is expected to exceed 7 billion yuan this year. 

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