XUZHOU, China, Sept. 29, 2016 /PRNewswire/ -- XCMG Hydraulics Co., LTD., a subsidiary company of XCMG, has recently established long-term strategic cooperation agreement with Permco, an American hydraulic parts company. XCMG officially becomes its only designated hydraulic cylinder production base in China.
"Permco has high reputation as a world leading hydraulic parts manufacturer, our partnerships will not only build a new bridge between our companies, but also further utilize resources to create greater values through our cooperation," said Chen Dengmin, General Manager of XCMG Hydraulics Company.
XCMG Hydraulics Company was founded in 1975 with the key mission to independently research and develop core components for construction and mining equipments, including hydraulic cylinders, hydraulic valves, metal tube assembly and hydraulic systems.
The company's cylinder product line now provides whole solution sets to all-terrain cranes, whose tonnage ranging from 55 to 1,600, and to excavators which tonnage from 1.5 to 700. Its hydraulic cylinder sets to 34-tonnage to 4,000-tonnage crawler cranes as well.
The single cylinder with bolt telescopic boom for the all-terrain crane is widely recognized by customers for its flexibility, reliability, super double locks and fast response. The company's 360t large-tonnage excavator cylinder serving in Australia has been working without trouble for 6000 hours.
XCMG Hydraulics Company's products are serving in more than 20 countries and regions including the US, Russia, Japan as core components for a broad array of machinery equipment in fields of construction, port hoisting, sanitation, mining and shipping. Despite economic downturn, the company is seeing a 99 percent year-on-year sales increase in domestic market and 15 percent increase in total exports in the first half of 2016.
The company's plan for the next decade will focus on breaking new grounds in fields of new material application, solving bottleneck problems in key technologies and achieving stricter quality assurance.
"Only when mastering the core component technologies will XCMG's machinery products have major advantages in the competitive market and avoid unhealthy competition," said Wang Min, Chairman and President of XCMG.
XCMG is a multinational heavy machinery manufacturing company with a history of 73 years. It currently ranks ninth in the world's construction machinery industry. The company exports to more than 176 countries and regions around the world.