Zoomlion, a global construction machinery manufacturer listed on both HK Stock Exchange and Shenzhen Stock Exchange, has formally signed a joint venture agreement with RIBA on Oct. 9th in Faenza, Italy. The main business of the joint venture, TOP Carbon srl, will cover the R & D, manufacture and sale of high strength composite parts, for instance, carbon fiber used in industrial machinery and device. At present, the company is mainly committed to the R&D of the carbon fiber arm support of concrete pump truck. The company will begin its fully-fledged production in 2013, with Zoomlion and RIBA hold 49% and 51% shares respectively.

"The application of carbon fiber on concrete pumps truck is a revolution of the manufacturing technology of construction machinery,” said Chen Xiaofei, the vice president of the Zoomlion, “and Zoomlion will become the only manufacturer that put the carbon fiber arm support into usage.”

Through years of cooperation, Zoomlion and RIBA have made a number of technical breakthroughs on the industrialization development of carbon fiber arm support, composite hydro-cylinder and other carbon fiber products. The establishment of the joint venture will become another perfect cooperation of the two companies.