CEC-Panda & @Barco JV Officially Inaugurated
Adrian J Cotterill, Editor-in-Chief
Brace and China Electronic Corporation (CEC) Panda announced the official opening this week of their joint venture Barco China Electronics Visualization Technology (Nanjing) Co., Ltd. (Barco-CEC)
On October 31, 2016, Charles Michel, Prime Minister of Belgium, met with Chinese Premier Li Keqiang to commemorate the 45th anniversary of bilateral ties, between China and Belgium. Barco-CEC has been selected in the list and recognized by the heads of state and through this strategic joint venture, the parties aim to vastly improve China’s critical infrastructure market, by providing advanced control room and virtual reality (VR) solutions.
This week, Belgium ambassador Michel Malherbe, Ms. Yan HU, Director of electronic information division at the Ministry of Industry and Information Technology (MIIT) PRC, and Barco and CEC-Panda top executives all joined the opening ceremony.
Jan De Witte, Barco CEO, said “The establishment of this joint venture fits perfectly within the spirit of the bilateral ties celebration. We are very pleased with the good cooperation with CEC-Panda. With this joint venture, we are bringing great new Barco control room solutions to the Chinese market that enables the industry to unleash the power of shared knowledge. We therefore see strong commercial and quality potential in this partnership.”
Barco’s ‘China for China’ strategy is aligned with the Chinese government’s ‘Made in China 2025’ initiative. Barco-CEC is going to contribute to the critical infrastructure market by offering integrated smart visual decision-making solutions − from displays to networking solutions − driving sustainable growth to realize China’s commitments.
The Joint venture was established at Nanjing on March 31 and is incorporated in Nanjing (Panda headquarters) and headquartered in Shenzhen (Home Appliance headquarters), with the Sales office headquartered in Beijing (Barco China headquarters). Barco owns 65% of the joint venture, while CEC-Panda owns 35%.
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