A private enterprise in Changzhou ,Jinsheng Industry Stock Co., Ltd. successfully took over 50% share of the Germany EMAG Group, one well-known machine tool manufacturer in the world. So far, Jinsheng has become the majority shareholder among the three shareholders.

At7pmlocal time, Jinsheng Industry Stock Co., Ltd. and EMAG Group signed the agreement in Berlin , Germany . And the State Development Bank also singed the agreement.

The projectreceived great attentionby theleaders of both countries. Li Keqiang,member of the Political Bureau of the CPC Central Committee and premier of the State Council, andWesterwelle, ViceChancellor and Foreign Minister of Germanyattended thesigning ceremony.

Founded in1867, EMAGGroup isthe inventor ofthe inverted machinetool,occupying40% of the globalmarket share. Besides, as the world'sleading supplier ofhigh-endgear, gearbox,high-speed trainwheelequipments, it has owned more than200 internationalpatents.

EMAGGrouphas invested25 million eurostoset upawhollyowned enterprise in Jintan. Through this acquisition, Jinsheng Company completed upgrade and marched into the international market. Last year, the sales revenue of Jinsheng Company reached 2.6 billion yuan, and it is expected to exceed 7 billion yuan this year.