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Harbin Electric (01133) signed an agreement with Huarong Company to purchase 10.37% of Electric Company, 5.22% of Boiler Company, and 26.96% of Turbine Company for a total of approximately CNY 433 million, increasing its ownership in each.
United Engine Corporation (UEC, part of Rostec) and Harbin Turbine Company (HTC) signed a strategic partnership agreement to develop, manufacture and deliver small and medium-sized industrial gas turbine units, including licensed production of 16 MW units and joint development of 40 MW units.