Zhao Jian, of Sinopec, and Sun Jianzhong, vice president of XCMG Construction Machinery, officially signed an agreement for the two organisations to co-operate on developing hydraulic fluids.
The deal was inked during an opening ceremony at bauma on the stand of XCMG, China’s largest construction machinery manufacturer.
A spokesperson for XCMG said it is the first time that an agreement has been signed between a major national Chinese oil products producer and a large manufacturing company in the construction sector.
Sinopec was set up as a joint stock entity under the China Petrochemical Corporation Group - Sinopec Group - in 2000 and is listed in Hong Kong, New York, London and Shanghai. It operates more downstream than PetroChina.
Sinopec products include everything from fertilizers and petrochemicals to refined oil products.