Sinopec Lubricant and Xuzhou Construction Machinery Group Co., Ltd. (XCMG) have signed a five-year overseas strategic cooperation agreement in Munich, Germany, in order to boost the development of overseas market by both parties.
Sinopec Lubricant and XCMG will start trial cooperation in 10 key foreign markets, gradually expanding this to 174 countries, including central Asia and Africa.
XCMG is a leader in China’s construction machinery industry. XCMG’s products include construction hoisting machinery, earth-moving machinery, compacting machinery, road machinery, concrete machinery, fire-fighting machinery, etc. XCMG is one of China’s largest construction machinery exporters, with a leading position in truck cranes, road rollers and motor graders.
Sinopec Lubricant, a subsidiary of China Petroleum and Chemical Corp. or Sinopec, one of China’s largest integrated energy and chemical group, has a leading position in China’s lubricants market. In 2011, the company opened its first overseas lubricant blending plant in Singapore, with an initial capacity of 100,000 metric tonnes per year.