(Yicai Global) Sept. 22 -- Jiangxi Naipu Mining Machinery and New Materials is to set up a sales office in Ecuador to increase its share of the global market, the Chinese mining machinery equipment maker said today.

The subsidiary will serve as a sales platform for the Shangrao, Jiangxi province-based firm’s rubber spares for mining equipment and mineral processing machines. The unit will have CNY5 million (USD736,000) in registered capital. No other details were given.

Naipu Mining [SHE:300818] was trading down 0.8 percent at CNY36.06 (USD5.30) at 2.30 p.m. China time today.

Editor: Kim Taylor