Palfinger Marine, headquartered in Salzburg (Austria), and Jiangyin Neptune Marine Appliance, headquartered in Jiangyin (Republic of China), entered into a[ds_preview] global sales and service cooperation agreement. One of the main pillars of the agreement is the establishment of a joint venture in China named Palfinger Neptune with registered offices in Shanghai and Jiangyin. Each party will own 50%. Palfinger Neptune will become the exclusive dealer of Neptune and Palfinger lifesaving appliances, spare parts and services in the defined joint venture sales area, including mainland China, Hong Kong, Macau, Taiwan, Korea and Japan. Palfinger will become the exclusive global dealer of Neptune products and the service partner for Neptune products outside of the joint venture area under the Palfinger brand.
