Value Microcaps Motherboard

[jtomm]

HRBN - Baldor Deal

I haven't tried to get in touch with Cummins yet, but I did hear back from Baldor. Here's the email exchange, starting with my question:

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A company named Harbin Electric claims to be a Chinese
company that has a joint venture with Baldor. Is this true?
I could find no mention of it at your website. Here is
Harbin's claim:

http://www.harbinelectric.com/

Thanks in advance for your response,

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We announced in May, 2004, our joint venture with Tech.Full Industry Company of Harbin (who later became part of the Harbin Electric family).

I have attached the press release for your review. This joint venture is intended to allow us to "put a toe in the water" regarding manufacturing linear motors for the Chinese market, and perhaps open up sales distribution for us down the road for some of our other products.

While this was seen as a long-term venture by us, establishing all of it is taking even longer than we expected, so there really is no news to report at this time. We are still trying to hammer out the details and determine how we should all move forward. At this point, we have not invested any money or designs in the project, just time.

Thanks for your interest in Baldor Electric Company, and if you have any questions, please let me know,

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Thank you very much for the response. One quick follow-up
if you don't mind.

What is the source of the delay? Is it red-tape between the
two countries, or is it more just a matter of both side
deciding exactly how they want to work together?

Any further elaboration would be appreciated.

Thank you in advance. I appreciate your time.

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I think you hit it best when you said "a matter of both sides deciding how they want to work together". It's been a good reminder to us that not everyone does business the way we do in the States (or at the speed to which we are accustomed).


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That was the email exchange. So although there is an "agreement" with Harbin, it's obviously not much of one since nothing has happened for nearly 1 1/2 years. Sounds like they agreed to agree.