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Zhejiang Dingli Machinery increased its ownership stake in MEC Aerial Work Platforms, a manufacturer of mobile elevating work platforms. MEC plans to expand its U.S. facilities with a new Research Center in California and an East Coast Parts Center.
Dingli will increase its stake in MEC from 25% to 49.8%, then buy the remaining shares to take full ownership. The deal will enable MEC to expand its US facilities.