Established in 1987, Chinaust, as a joint venture, specializes in providing utility piping solution. The Chinese shareholder, Lingyun Industrial Corp. Ltd., is a subsidiary of Norinco Group. The foreign shareholder is Swiss George Fischer, with a history of more than 200 years. Both Chinese and foreign party holds 50% of the shares. Chinaust, headquartered in Zhuozhou, has plants in Hebei, Changchun, Beijing, Shanghai, Zhejiang, Chongqing, Chengdu, Jinan, Shenzhen, Sichuan, Xi᾿an, Wuhu, Liuzhou, Weifang, Qingdao, Shiyan, Wuhan, Foshan, Ningbo and Changshu, its nationalwide manufacturing bases and marketing network can provide customers best service in a timely way. There are two business segments: Utility Piping System and Automotive Tube system. The Automotive tube system offers sophisticated technology and fluid management system and solution for auto market. As a leading player in Chinese market, the Utility business covers gas transmission and distribution, water supply and drainage, water storage, sewage treatment, secondary heating piping network and many other applications.