Highway Holdings announced it has formed a joint venture with ACI Group GmbH, based in Zimmern, Germany, to manufacture and market in Asia a series of proprietary CO(2) snow-jet cleaning systems for industrial and commercial cleaning applications. The newly formed Hong Kong-based joint venture is named "Advanced Cleaning Innovation Asia" and will initially utilize Highway Holdings' facilities in Hong Kong and Shenzhen, China for its operations. Highway Holdings owns a 51% interest in the joint venture, and ACI Group owns the remaining 49%. Highway will provide manufacturing and assembly facilities for the production of the cleaning systems.
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