At the end of 2005, Saurer set up a joint venture with China based Jinsheng for manufacturing of program units for staple fiber spinning equipment and components. Saurer holds 70% stake in the joint venture. The acquisition is expected to
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| accelerate Saurer's development of the mid-range and low-end segments for ring spinning machines in Asia. The activities brought into the joint venture by Jinsheng had a turnover of 16 million Euros in 2005. Jinsheng is a Chinese manufacturer of machines and components for staple fiber spinning. 
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