Zhejiang Asia-Pacific, Elaphe to form joint venture  [ China ]

Zhejiang Asia-Pacific Mechanical & Electronic Co., Ltd. announced that it will establish a joint venture with Elaphe Propulsion Technologies Ltd., its affiliated company. The new company will be called Hangzhou Asia-Pacific Elaphe Power Technologies Co., Ltd., and will be located in Hangzhou City, Zhejiang Province. It will be capitalized at EUR 5 million, of which 51% (EUR 2.55 million) will b...