Chinese company signs marine deal

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China-based Wowjoint Holdings Ltd., a leading provider of customized heavy-duty lifting and carrying machinery, today announced it signed several new equipment contracts, including its first in the marine industry.

Sunbird Yacht Co., China's largest yacht manufacturer and the only publicly listed China-based yacht company, signed a $1 million contract with Wowjoint to purchase two 150-ton tyre marine hoists.

"The tyre marine hoist, a new machine developed and designed solely by Wowjoint, represents the first sale into the yacht industry and provides a significant competitive advantage in pursuing additional contracts within this growing niche market," the company said in a statement.

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