Daiwa House Establishes Joint Venture Company with China's Baoye Group

    Daiwa House Establishes Joint Venture Company with China's Baoye Group

- Baoye Daiwa Industrialized House Manufacturing Company Limited to Make and
Sell Parts for Low-Rise Industrialized Housing Units in China -

PR Newswire

TOKYO, March 7, 2013

TOKYO, March 7, 2013 /PRNewswire/ -- Daiwa House (China) Investment Co., Ltd.,
a subsidiary of Daiwa House Industry Co., Ltd., signed a contract on February
22 to establish a joint venture company with Baoye Group Co., Ltd. The Baoye
Group is a corporate group engaged in the general construction and real estate
development businesses in the People's Republic of China. The joint venture
company is scheduled to be established in September 2013 under the name of
Baoye Daiwa Industrialized House Manufacturing Co., Ltd.

(Photo:
http://prw.kyodonews.jp/prwfile/release/M000427/201303060337/_prw_OI1fl_D7w3kjit.jpg)

Beginning in September 2013, Baoye Daiwa Industrialized House Manufacturing
will manufacture at its dedicated industrialized housing plant various parts
-- including columns, beams, trusses, exterior wall panels and roof panels --
for lightweight steel frames used in low-rise housing units, and sell them to
housing development companies within the Baoye Group as well as provide
installation and erection supervision services.

In 2014, as the first stage, Baoye Daiwa Industrialized House Manufacturing
will begin supplying these parts to the Kuaijishan Four Seasons Garden
Development Project, a high-class resort development project in the city of
Shaoxing, where Baoye's developer Shaoxing Baoye Four Seasons Garden Real
Estate is currently selling housing units.

Subsequently, Baoye Daiwa Industrialized House Manufacturing is scheduled to
sell these parts for Baoye's Zhitang Hu Development Project, as well as to
government-owned and other general development corporations.

About Daiwa House Industry Co., Ltd.
The company is headquartered in Kita-ku, Osaka. Its President is Naotake Ono.

About Daiwa House (China) Investment Co., Ltd.
The company is headquartered in Suzhou, Jiangsu. Its President is Keiichi
Yoshii.

About Baoye Group Co., Ltd.
The company is headquartered in Shaoxing, Zhejiang. Its Representative is Pang
Baogen.

Contact:
Kai Sano
Corporate Communications Department
Daiwa House Industry Co., Ltd.
Tel: +81-6-6342-1381
E-mail: k-sano@daiwahouse.jp

SOURCE Daiwa House Industry Co., Ltd.

Website:
http://prw.kyodonews.jp/prwfile/release/M000427/201303060337/_prw_OI1fl_D7w3kjit.jpg
 
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