Permco News Release: XCMG Partnership

Contact:                                                                                                    
Permco, Inc.
Robby Shell, Chief Operating Officer
1500 Frost Road, P.O. Box 2068 Streetsboro, Ohio 44241
P- 330-626-2801
Robby.shell@permco.com
www.permco.com

FOR IMMEDIATE RELEASE

Cleveland, Ohio, October 6, 2016

Permco Inc. announces a long term strategic alliance with China’s XCMG

Permco Inc, a global leader in the manufacturing of hydraulic pumps and motors announced today a long term strategic alliance with XCMG, the 9th largest construction equipment maker in the world.

XCMG was ranked the number 1 brand name in China at the recently held world brand summit in Beijing, China with a brand value over $6.4 billion in US dollars.

“Our commitment to high quality products and unparalleled customer service on a global basis fits nicely with the philosophy of XCMG”, said Robert Shell, Chairman and CEO of Permco’s parent company Guyan International.

Founded in 1964, Permco, a family-owned business, developed a wide array of replacement hydraulic parts and eventually expanded its manufacturing capabilities to include cast iron parts and the resulting complete units.   Today, Permco maintains its focus on customer service and continues a decades-long tradition of developing fluid power systems that meet each of their customer’s specific needs. The alliance with XCMG will now add large bore hydraulic cylinders to Permco’s product offering which includes gear and vane pumps/motors, flow dividers, intensifiers and a variety of accessories and components. The alliance also couples global distribution networks of both Permco and XCMG to enhance and expand market serviceability for both parties.

“Permco has high reputation as a world leading hydraulic parts manufacturer. Our partnerships will not only build a new bridge between our companies, but also further utilize resources to create greater values through our cooperation,” said Chen Dengmin, General Manager of XCMG Hydraulics Company.

Permco is proud to partner with XCMG to help keep industries moving around the world.

With Permco, It’s personal.

For more information or to schedule an interview, please contact chris.root@permco.com