# Beijing Tianhai to set up joint venture for pressure cylinder production in Hebei

Beijing Tianhai Industrial, a subsidiary of Jingcheng Machinery, signed an agreement with Kuancheng Shenghua to establish Kuancheng Tianhai in Hebei province. Beijing Tianhai will contribute RMB 49.85 million in cash and technology for a 61.1% stake, while Kuancheng Shenghua contributes land and equipment for 38.9%.

- Type: Investment
- Announced: 2017-04-06
- Where: Kuancheng Manchu Autonomous County, Hebei, China
- Value: $7.20M (49.8M CNY)
- Status: announced
- Products: pierced cylinders, large-diameter tube cylinders
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Beijing Tianhai Industrial](https://endata.com/companies/23432.md)
- [Kuancheng Shenghua Pressure Vessel Manufacturing](https://endata.com/companies/19650.md) (partner)
- [Jingcheng Machinery](https://endata.com/companies/23433.md) (investor)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/51557.html), 2017-04-07: "北京天海拟以现金及专利技术、专有技术使用权作价出资人民币 4984.78 万元，持有61.1% 股权"

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