A-Power (APWR) Forms Joint Ventures With Jiangsu Miracle Logistics System Engineering Co., Ltd.

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10:49:27 am on August 18, 2009

A-Power Energy just announced that it has formed 2 joint ventures with Jiangsu Miracle Logistics System Engineering Co., Ltd. The first joint venture, Shenyang Tianxiang Wind Equipments Manufacturing Co., Ltd, will manufacture wind turbine components like blades and hubs, at a new plant in Shenyang City. For this joint venture, A-Power is throwing in $1.5 million and Jiangsu Miracle will invest $1.4 million.

The second joint venture, Shenyang Tianrui Wind Equipments Sales Company Co., Ltd, will sell these components.

A-Power is throwing in $359,000 for this joint venture, and Jiangsu Miracle is contributing $373,000. A-Power will buy most of the components that Shenyang Tianxiang builds.

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