KAIFENG, China (AP) -- China Valves Technology will manufacture and install specialty valves for Dongfang Electric's power generation projects, the company said Friday.
Dongfang Electric produces power generation equipment for power stations worldwide. The two companies will also develop a joint research and development center.
China Valves Technology Inc. already supplied $6 million worth of valves to Dongfang Electric prior to the agreement. Deliveries under the new venture will begin the first quarter.
Financial terms were not disclosed.
