Brown & Sharpe Announces China Joint Venture.NORTH KINGSTOWN North Kingstown (kĭng`stən, kĭngz`toun'), town (1990 pop. 23,786), Washington co., S central R.I., on Narragansett Bay; inc. as Kings Towne 1674, divided into North Kingstown and South Kingstown 1723. , R.I.--(BUSINESS WIRE)--Aug. 4, 1999-- Brown & Sharpe Sharpe , William Forsyth Born 1934. American economist. He shared a 1990 Nobel Prize for contributions to financial economics. Manufacturing Company (NYSE NYSE See: New York Stock Exchange :BNS Noun 1. BNS - a bachelor's degree in naval science Bachelor of Naval Science bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies ) announced its participation in a Joint Venture ("JV") in Qingdao, Shandong Province on the East Coast of the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China, with Qingdao Qianshao Precision Machinery Corp. ("QQMF") and Indivers B.V., of The Netherlands, for the sale, design, and manufacture of local and imported Coordinate Measuring Machines ("CMMs") in China. Brown & Sharpe will become the majority shareholder (60%) in the existing JV, formerly known as QI-Tech, now to be named Brown & Sharpe/Qianshao. Frank T. Curtin, Brown & Sharpe's Chairman, President, and Chief Executive Officer stated, "We are extremely pleased to become part of this already successful partnership, which will allow us to offer customers in China and throughout Asia the broadest range of CMMs in the industry. The new JV will enable us to provide our Chinese customers excellent local sales and service support for both locally produced and imported CMMs. It further strengthens the global presence of Brown & Sharpe, making us the clear market leader in the Chinese market, which is growing in excess of 30% per year." |
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