New Home Market for German Mining Supplier
The shareholders of Halbach & Braun Maschinenfabrik GmbH & Co. (HB) have signed an agreement with Chinese mining group Yangquan Coal Industry Group Co., Ltd. (YQ). In this way, HB secures a large home market for its products and YQ gains access to German mining know-how and state-of-the-art mining equipment. To ensure ongoing business operations, the two managing partners have been provided with long-term management service contracts.
YQ is one of the 500 largest companies in the world with a turnover of 23.8 billion dollars. With about 50 of its own coal mines, YQ is one of the largest mining companies in Shanxi Province. In an effort to counter rising costs in the coal industry, YQ has decided to invest in a comprehensive modernization of its own mines. The main element of this modernization is the company HB. HB is characterized by modern, innovative and efficient products and is a figurehead of the German mining supply industry. The YQ Group aims to leverage the expertise of its employees and the company's enthusiasm for innovation to build a world-leading technology center for the mining industry in Hattingen. This technology center is responsible for the optimization and development of all mining products for YQ. High product quality is indispensable and will continue to require the production of sophisticated components in Germany in the future. In addition, it is expected that HB will be the face of the YQ Group outside of China and distribute all its products worldwide.
In this way, HB secures a new home market, which alone can ensure full utilization of the company. At the beginning of the year, the YQ Group demonstrates this by ordering three longwall conveyor systems. Currently, three more systems are being negotiated. HB is aiming for one of the best business years in recent company history. In order to be able to cope with the large volume of orders on a permanent basis and to meet the high demands of the new shareholder, HB's management has announced that it will hire new employees in all areas.
The HB Group was founded in 1920 and is currently run by the Braun family for the third generation. HB is an international company that develops, produces and sells various machines for underground and underground mining. Since 2010, the company headquarters in Hattingen at the former Henrichs-Hütte site.
Source: HB Group