Hong Kong-listed TSC Group has announced that has announced that its wholly owned subsidiary TSC (Qingdao) Manufacture Co and Jianhu Nuopu Machinery have agreed to establish a joint venture TSC (Yangcheng) Manufacture Co in Jianhu county, Yancheng City, Jiangsu.
TSC and Jianhu Nuopu will occupy 90% and 10% equity shares in the jv respectively.
The jv will mainly produce petroleum equipment and provide technical services in the oil and gas industry.
TSC said the jv indicates that the group has officially enters into the area of producing well control equipment and wellhead devices, which is conducive to extending the group’s products chain and is complementary to the offshore equipment, MRO supplies and MRO services businesses.
