General Technology Group increased capital to enter the Harmony Group to consolidate the status of equipment manufacturing

China General Technology Group and Harbin Measuring and Cutting Tool Group formally signed a restructuring agreement on the 30th of this month. China General Technology Group will increase capital into Haliang Group and control 51.67% stake, and is ready to build Haliang Group into a competitive enterprise in CNC machine tools and tools industry as soon as possible.

In the past 10 months, China General Technology Group has reorganized four large enterprises including United Qier Machine Tool Group, Tianfang Pharmaceutical Group, China Light Industry Corporation and Haliang Group. The restructuring of the joint will effectively enhance the position of China General Technology Group in the equipment manufacturing industry.

Haliang Group is one of the 156 key projects during the “First Five-Year Plan” period. For more than 50 years, Haliang Group has developed into a leading enterprise in the production of measuring tools, cutting tools, precision measuring instruments, CNC tools and CNC machine tools. It is a long-term production in the tool manufacturing industry with the largest variety of products and production scale. The largest large enterprise group, and has wholly acquired the German lion (KELCH).

China General Technology Group is one of the 54 key state-owned enterprises directly managed by the central government. It is China's largest major technical equipment and first.