November 9, 2007 -- BAOJI, November 09, SinoCast -- China's Ministry of Commerce officially allowed Qinchuan Machinery Development Co., Ltd. of Shaanxi, a machine tools supplier based in northwest China, to set up a wholly-owned arm in Michigan, America.

The new venture, temporarily named Qinchuan Industry USA, Inc., will be engaged in the sales business there with a total registered capital of USD 2.81 million. It is dedicated to turning into Qinchuan Machinery's integrated holding company specialized in production, sale, fitting, research, development, consultation, and house rent.

At the end of 2003, Qinchuan Machinery acquired the US peer UAI. From then on, the Chinese company has begun accumulating the related experiences of foreign management and market expansion, with a view to making an overseas investment.

Presently, Qinchuan Machinery has been one of the largest high-end digital machine tool and gear machinery providers in North America, amongst all the domestic counterparts, said people familiar with the matter.

Source: SinoCast China Business Daily News (Abstracts)