SUNNYVALE, Calif. and BEIJING— Trimble and the China Aerospace Science & Industry Academy of Information Technology (CASIC-IT) announced that they have signed a definitive agreement to form a joint venture in China. The agreement was signed at the Diaoyutai State Guesthouse in Beijing, China.
The joint venture, 50 percent owned by Trimble and 50 percent owned by CASIC-IT, will combine the commercial expertise, knowledge and technologies of both CASIC-IT and Trimble to develop, manufacture and distribute in China Global Navigation Satellite System (GNSS) receivers and systems, based on the Chinese Compass satellite system, for civil applications in the commercial positioning, navigation and timing markets.
The joint venture will be based in Beijing, China and is expected to begin operations after regulatory approval from the Chinese government.
