Fedders Corporation, a manufacturer of air treatment products, and Jiangsu Xingrong Hi-Tech Company Limited, a Chinese engineering and manufacturing company specializing in the production of non-ferrous metal fabricating equipment and the production of copper tubing, recently announced the formation of a joint venture in Changzhou to design, produce and market state-of-the art heat exchangers used in air conditioners.
Mr. Xiao Kejian, Chairman of the Board of Jiangsu Xingrong Hi-Tech Company Limited, said, "We look forward to partnering with Fedders Corporation, a leader in heat exchange technology for over 100 years." Sal Giordano, Jr., Chairman and Chief Executive Officer, Fedders Corporation, said, "We are extremely pleased to partner with the leading producer of copper tubing manufacturing equipment in China. The state-of-the-art heat exchangers produced by this joint-venture will help keep Fedders at the forefront of air conditioner heat exchange technology."
Fedders and Xingrong will each have a 50% interest in the joint venture, named Fedders Xingrong (Changzhou) Air Conditioner Components Co., Ltd. Other terms of the joint venture were not disclosed.