Versalift and XJ Electric (Xuji) completed negotiations on two joint ventures to manufacture bucket trucks and aerial lifts for China's electric power grid. An official announcement is scheduled for December 18, 2018.
XJ Electric announced that its controlling shareholder, XJ Group, has been awarded a contract worth approximately 628.5 million yuan for the first batch of equipment for the Pakistan Matiari-Lahore ±660kV HVDC transmission project. The related products and services will be provided by XJ Electric.
Henan XJ Instrument, a subsidiary of XJ Electric, was named as a recommended bid winner in State Grid Corporation of China's 2016 third bidding for electricity meters and information collection equipment, with an estimated total award of about CNY 300 million.