Ramco is planning to sell the export machine tools to China through a joint venture with the state-owned Chinese company R&D Center, the company announced in a statement.
It will allow Ramco to export its manufacturing capabilities, as well as other products, to a country that is not part of the Export-Import Bank.
The joint venture is expected to be operational by early 2018, according to Ramco.
Ramco’s president and CEO, Chris Egan, said in the statement that “in this new environment, it makes sense to partner with a Chinese company for the future of our global machine tool business.”
Ramco plans to purchase up to 30,000 machines from China and sell them to companies in other countries, including the U.S., Canada, and Germany, according the statement.
Ram, which is headquartered in San Francisco, has been trying to build out its international footprint with the acquisition of two factories in Shanghai, which it said it would use to increase production capacity.
The company said it plans to use these factories to develop and market its machine tools in more than 120 countries by 2020.
The Jupiter Machine tool will help Ramco increase its production capacity, according Ramco president and chief technology officer Joe Gossage.
“With the launch of this joint venture, we will be able to better leverage our existing and emerging global capabilities and to offer the best of our expertise and innovation to a global customer base,” Gossages said in a press release.