Tenova sold HTC Group to Ningbo Qijing.

Tenova sold HTC Group, a company specialized in advanced technologies for heat treatment processes for components, to Ningbo Qijing, the parent company of Qijing Machinery, a company specialized in the research, development manufacturing and assembling of mechanic systems and precision parts mainly operating in the home electric appliance field and industrial application filed (in particular automotive, power tools and hydraulics). Financial terms were not disclosed. “As an experienced company in supplying precision parts for different industries we recognize in the heat treatment one of the most critical process for precision machined parts.We believe that HTC group, with its expertise and product range, has the potentials to gain space and relevance in growing sectors, especially in the Chinese market." Wang Yongqi, Chairman of Ningbo Qijing Holding.