AMKODOR signed Memorandum on Cooperation with YTO GROUP Corporation
On 29 July, Minsk held negotiations between the heads of the AMKODOR holding and YTO GROUP (People’s Republic of China). A. Shakutin, Chairman of the Board of Directors of the JSC AMKODOR, holding managing company, and Zhao Yanshui, President of YTO GROUP, as well as a numerous group of heads and experts from both machine engineering corporations took part in the negotiations.
For reference. YTO GROUP Corporation manufactures agricultural and construction machinery included in the Chinese National Engineering Corporation SINOMACH. YTO GROUP enterprises manufacture agricultural tractors, engines, grain combine harvesters, trucks, wheel loaders, bulldozers, rollers and so on. The company was established in 1955 and as for the moment it is the largest manufacturer of tractors in China.
During the negotiations, the parties discussed a wide range of issues related to the establishment of partnership business relations and setting up production cooperation on a mutually beneficial basis.
As a result of the negotiations, the parties signed a Memorandum on Cooperation between the AMKODOR holding, its related enterprises, and YTO GROUP. The Memorandum outlines specific directions for the development of the production of tractor vehicles, components and agricultural equipment.