Hongyun Group of China, GD SpA of Italy Sign Production Equipment Import Deal

Source from:  Hungyun News newspaper 10/06/2008

Hongyun Group in southwest China's tobacco-producing Yunnan Province and GD SpA of Italy signed a package of agreements on Hongyun's import of five ultra-speed cigarette making units manufactured by GD SpA at a ceremony held in Yunnan's provincial capital city of Kunming on September 10. Under the witness of leaders and officials of China International Tobacco Co., Ltd., Yunnan Provincial China Tobacco Industry Corporation, Yunnan International Tobacco Co., Ltd., GD SpA of Italy and Hongyun Group, Hongyun Group's Board of Directors Chairman and President Zhu Shaoming and GD SpA's Market and Sales Director Cremonini Paolo signed the technology contract for the import of the equipment, two officials with China International Tobacco Co., Ltd. signed with Paolo the commercial contract for the import of the equipment, and Deputy General Manager Meng Faqian of China International Tobacco Co., Ltd. and General Manager Cao Junhui of Yunnan International Tobacco Co., Ltd. signed the agreement on authorization of import. The package of agreements has been a single package of contracts for the import of production equipment by China's tobacco industry with the highest level of technology, involving the largest quantity of equipment and with the highest value of payment; and has also been the most valuable single-deal export contract for GD SpA of Italy. The signing of the package of agreements signified a new step taken by Hongyun Group in technical transformation intended to turn itself into a first-rate modern competitive tobacco manufacturer and to reach the advanced world levels. In an address to the signing ceremony, Deputy General Manager Meng Faqian of China International Tobacco Co., Ltd. said that Hongyun Group is a key Chinese tobacco manufacturer given priority in future development, and that the current deal will contribute to promoting its technology to a higher level. Enditem