JSTS Polymer Materials Technology Group issued an announcement saying that the company and CAF Power & Automation, SL (hereinafter referred to as "CAF P & A") signed a "Sino-foreign joint venture contract" in Changzhou, Jiangsu. 25.5 million yuan, with the company's own funds to contribute, the joint venture will become the company's holding subsidiary.
CAF P & A mainly develops traction, control, communication and energy storage systems, focusing on the railway market and urban transportation market. It is one of the global leaders in the field of high-tech and high-reliability vehicle manufacturing and supply for rail transit.
JSTS stated that the establishment of a joint venture with CAF P & A this time can strengthen the economic cooperation and technical exchanges between the two parties in the production and sales of traction equipment and other vehicle components. In addition, through the establishment of a joint venture company, the two parties will cooperate fully in the rail transportation industry chain, which will enable the company's product line to extend to the downstream rail transportation supply chain.