Zongshen Power announced that on July 13, Zongshen Power Company and Piaggio Motors Co., Ltd. signed a “Meeting Minute†in Ponterdra, Italy. The two parties intend to establish a cooperative relationship in the field of diesel engines. Both parties intend to invest in the production of diesel engine products developed and researched and developed by Piaggio in China. The product models are mainly BTC 1.2 litres (Europe 5 standard) and BNA 1.0 litre (BS4 standard). The two sides agreed to set up a working group to carry out preliminary work such as the evaluation of the investment plan. The joint venture company is established in China with a total investment of 15 million euros. The two parties will each invest 50% in the joint venture company. The company will provide the joint venture with diesel engine production technology, and Zongshen Power will provide a joint venture company. The first batch of 100,000 diesel engine capacity required equipment and tools. However, the announcement stated that the cooperation with Piaggio's diesel engine project is still in the planning phase. Before the initial work of the investment program feasibility evaluation and business plan formulation and the corresponding approval process, neither party will implement the substance. The behaviors such as sexual capital contribution will not have a major impact on the normal production, operation and performance of the company. Vertical Centrifugal Pump,Submerged Slurry Pump,Slurry Mud Pumps Hebei Yongquan Pump Industry Co., Ltd. , http://www.cnsolarpump.com