Uralmash Machine-Building Corporation, Yekaterinburg-based Electrotyazhmash, and ELTA (located in Kharkov, Ukraine) signed a tripartite agreement on strategic cooperation in the field of development, production, and market promotion of excavating, drilling, and other kinds of machinery.

The spokesperson for Uralmash Machine-Building Corporation reports the three parties are planning to sign contracts that would allow each of the companies to build up their technological and engineering potentials, raise production outputs, use their capacities to the fullest, launch new product types as well as new technologies, and create new jobs.

An ad hoc work team (consisting of all the three enterprises’ representatives) is to be set up in the nearest future in order to define the general developmental direction of the parties, plan joint participation in exhibition, fairs, and conferences, support information exchange, and come up with the common promoting strategies.