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Siemens and a subsidiary of China National Machinery Industry Corporation (Sinomach) signed a strategic partnership agreement, under which both parties will fully cooperate in such areas as technology R&D, equipment manufacturing, and local and global EPC projects. Siemens will help Sinomach and its subsidiaries seize such opportunities as “Made in China 2025” and the “Belt and Road” initiative to speed up their transformation and upgrading, and develop their local and overseas businesses. This agreement was initiated by a subsidiary of Sinomach China National Bearing Joint Import & Export Corporation, which will be the bridge for the cooperation between Siemens and Sinomach subsidiaries.
Prior to this, Siemens and Sinomach have embarked on an in-depth partnership in industrial robots and intelligent manufacturing. Last November, Siemens and Sinomach’s subsidiary Sinomach Intelligent Technology Co., Ltd. signed a memorandum of understanding on a joint R&D center for strategic partnership on key industrial robot technologies, manufacturing automation, digitization and intelligent factory, in a bid to jointly promote study on, and formulation of, new standards in the area of industrial robots and build an information sharing platform in the area of digitization.
Keywords: EPC Projects, Technology R&D, Equipment Manufacturing, Belt and Road, ARC Advisory Group.