MOSCOW (MRC) -- The chemical company Wanhua BorsodChem and the information and communications technology provider Huawei Technologies announced the signing of a strategic cooperation agreement in Budapest, Hungary, on 28 July 2016. Under the agreement, the two companies will cooperate in setting up a big-data centre, cloud-based technology and network for machine-to-machine communication, as per GV.
The agreement was signed by Ding Jiansheng (front left) and Zheng Weifeng. The ceremony was also attended by Chen Xiaojun (back left), Political Counselor of the Chinese Embassy in Hungary, and Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary.
The agreement was signed by Ding Jiansheng (front left) and Zheng Weifeng. The ceremony was also attended by Chen Xiaojun (back left), Political Counselor of the Chinese Embassy in Hungary, and Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary.
Ding Jiansheng, President of Wanhua Industrial Group Co., Ltd. and Chairman & CEO of Wanhua BorsodChem, said: "Through cooperation, we will set up our European Informatization Center in Hungary, deepen and upgrade the level of our intelligent production and finally realize industry 4.0 (or the fourth industrial revolution) in our company. We have every reason to believe that with full support from Huawei Technologies, we will be successful in building up an intelligent manufacturing base with relative competitive advantages in Europe."
Zheng Weifeng, CEO of Huawei Technologies Hungary, said: "We are very pleased to sign the strategic cooperation agreement with Wanhua BorsodChem, one of the largest chemical companies operating in Hungary and we believe this will be an important milestone for both companies in our development in Hungary." Based on BorsodChem’s demands, Huawei will provide advanced products and solutions to accelerate the company's speed on the path towards intelligent manufacturing.
As MRC wrote before, Chinese-owned chemical company BorsodChem is planning to establish a new hydrochloric acid condensation plant in Kazincbarcika, via an EUR84 mln investment, supported with a EUR3.2 mln Hungarian government grant.
Wanhua Industrial Group acquired BorsodChem in February 2011 by exercising a call option on shares held by funds of UK-based private equity group Permira and Austrian private equity investor Vienna Capital Partners (VCP), making Wanhua the third largest isocyanates producer in the world.
MRC