# IBARMIA signs joint venture agreement with Shandong Iraeta Heavy Industry in China

IBARMIA signed an agreement of intent with Shandong Iraeta Heavy Industry Stock Co., Ltd. to create a joint venture to manufacture high-technology machining centers in Guanzhuang, Shandong, China. The new company will be based in a 10,500 m² building.

- Type: Partnership
- Announced: 2017-04-20
- Where: Guanzhuang, Shandong province, China
- Status: announced
- Products: 5-axis machining centers, multiprocess machining centers
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [IBARMIA](https://endata.com/companies/17120.md) (partner)
- [Shandong Iraeta Heavy Industry Stock Co., Ltd.](https://endata.com/companies/17121.md) (partner)

## Sources

- [afm.es](https://www.afm.es/en/news/ibarmia-signs-an-agreement-of-intent-to-create-a-joint-venture-in-china), 2017-05-08: "This agreement, pending confirmation by Executive Boards of both partners completes the creation of a joint venture to manufacture machining centers of high technological for a better positioning in the Chinese market of the manufacturer IBARMIA."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.