(Yicai Global) Sept. 14 -- Neway Valve Suzhou Co. [SHA:603699], an industrial valve manufacturer based in eastern China's Jiangsu province, will continue to supply its products to oil giant Royal Dutch Shell Plc [NYSE:RDSA] through the renewal of a five-year strategic cooperation agreement.
The firm signed the deal, which will run to Jul. 22, 2022, with Shell subsidiary Shell Global Solutions International BV during an event at The Hague in west Netherlands.
Neway Valve is China's largest industrial valve maker with products applicable for use in the oil, natural gas, chemistry and power generation sectors. The company is China's first EU-certified valve manufacturer and has received certification from relevant organizations in several European countries, such as Germany, the UK and Norway.
Shell, the world's largest oil company, has established a presence in China and has been involved in over 30 wholly-owned companies or joint ventures in the country, employing 7,000 people.